The large economies buy minerals from South Africa as raw materials and manufacture goods which they sell back to the country at exorbitant prices, he said.
Capitalism works in such a manner that at times more is produced than what can be sold, resulting in the prices being reduced and commodity-based economies suffer, he explained.
It is in the nature of capitalism to concentrate capital in fewer and fewer enterprises, Zuma said.
Historically all the capital is controlled largely by white men, he added.
"Those who hold capital here and abroad instinctively become suspicious when we talk about changing the structure of the economy because they are making a lot of money from the economy as it is.
"They have to protect their hold on the economy even if it means they have to destroy our spirits and take our lives," Zuma said.
South Africa must re-industrialize so that more jobs can be created, he said.
"We also want to beneficiate our minerals and agricultural products so that we add more value and do not depend on import of finished goods from other countries," the president said.
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