As the center of the modern economy, finance should and is able to play an important role in the construction of a socialist harmonious society. So far, the financial sector has not fully adapted to the endeavors to build a harmonious socialist society. We need to make major breakthroughs in financial reform in the future.
It was no coincidence that growth in South Africa in 2010 and 2011 was strongest in the consumer sector, and in particular goods consumption. But even this “safety valve” seems to be gradually closing. South Africa’s terms of trade have now declined for three consecutive quarters up to the second quarter of this year.