The Republic of South Africa is located in the southern hemisphere and is known as the "Rainbow Country". South Africa is the second-largest economy in Africa. Its citizens have a higher standard of living and its economy is relatively stable compared to other African countries. South Africa's finance, law, communications, energy, and transportation industries are relatively developed, with complete hardware infrastructure and stock trading markets, and the production of gold and diamonds ranks first in the world. Deep-well mining and other technologies are in a leading position in the world. South Africa has been identified as a medium power in international affairs and maintains significant regional influence.