WHAT HAPPENED
Standard Bank Groupchief executive Sim Tshabalala has warned that South Africa risks losing more of its manufacturing base if cheap imports from Chinese e-commerce platforms such as Temu and Shein continue to outpace local producers. Tshabalala said African countries must build stronger domestic manufacturing capacity and negotiate trade and investment agreements that create greater value for local economies. His warning comes as South Africa seeks to rebuild industrial capacity after years of pressure on sectors including clothing and textiles. The country’s Department of Trade, Industry and Competition has identified deindustrialisation, weak growth, declining productive capacity and infrastructure backlogs among the challenges facing the economy. Cheap imports put local producers under pressureTshabalala said China’s large industrial capacity can bring investment into Africa, including manufacturing projects such as vehicle assembly, but can also result in a large flow of finished products into African markets.
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