People anywhere with lower incomes will tend to purchase locally made products for the most part - food, clothing, shelter, small luxuries when possible due to their being sufficiently cheap, which means produced at the same wage scale or lower, mostly ... doesn't matter to an RSA miner if oil goes to fifty US/bbl, he has no motor in which to burn it .... if any amount of food/clothing/shelter was imported, it would be a different story, but RSA is pretty self-sufficient in them, having been forced into laager not long ago ... there will be some 'feedbacks into the economy', for sure, but limited in degree and speed
I'd be interested in hearing what heinz has to say about political risk in RSA, and in Africa generally ... a little surprising what Stephen says the Economist says about DRC, eh ... huge potential on that continent, if only ...
National bid strong this morning, one of few with semi-decent volume ... cheers |
