9 ANC commissions rule against adopting ‘white monopoly capital’ phrase
Instead, the majority of the party's commissions have said that capital is a global phenomenon that manifests itself in different ways.
JOHANNESBURG - The African National Congress (ANC) says nine of its 11 commissions have agreed that the party should not use the phrase white monopoly capital to describe the problems in the economy.
Instead, the majority of the party's commissions have said that capital is a global phenomenon that manifests itself in different ways in different parts of the world.
Supporters of President Jacob Zuma had wanted the party to adopt the phrase white monopoly capital when defining the economy.
Joel Netshitenzhe of the party's strategy and tactics commission says capital is different in different parts of the world.
“That relationship we were describing would apply whether that capitalist is Japanese, Indian, white or whatever other category you can think about.”
But he also says that it cannot be ignored that there is white dominance in the economy.