. Ours is a small market by global standards and in most instances manufacturing subsectors that don’t fail to insert themselves into global value chains will not survive. Exports, beyond our traditional minerals and resources, must be a key part of our future.
The recent announcement of tariff rebates on yarn and textile inputs to clothing manufacturing linked to local retail offtake commitments may well be a game-changer. It will unlock significant opportunity for SA manufacturers to win greater share of local clothing retail procurement — and deliver affordable pricing to the SA consumer.
Finally there is the question of whether Patel jumps whenever a manufacturer demands an import tariff. Bruce makes this allegation in relation to the Industrial Development Corporation’s investments and also suggests anyone who “bends the knee” gets a tariff hike. He speaks like someone who has not met the famously independent-minded minister.
So the economy is in great shape then? And there is little or no unemployment then?