Current Events Summary #3

The South African government decided not to fix bread prices. The wheat price in South Africa has risen by 75% to R1 320 per ton since August 2006. High food price increases over the last ten years have seriously affected the availability and affordability of bread in the South African area. Southern African has had to recall hundreds of toys tainted with lead. "Lead, a highly toxic element, can cause severe nerve damage, especially in children. Under US regulations, children's products found to have more than .06% lead accessible to users are subject to a recall." (News24.com) Between 1990 and 2005, 23 African nations and over $18bn have been the cost of wars. The government hopes to restrict the amount guns being channeled to African conflict zones, which will lower the amount of money being poured into the wars. After 3,200 miners were trapped when a gold mine collapsed in Johannesburg, South Africa, the government has shut down the mine for 6 weeks, completely halting the flow the gold into the economy. This will no doubt cause a ripple in the economy as will the rising cost of wheat and the recall of toys in South Africa. The future of this economy is bleak.