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Everything’s Still OK For Now Warns South African Economist… Coronavirus-Induced Economic Pain is Coming

The more that the free movement of people and goods between South Africa and China shuts down due to the coronavirus outbreak, the great the threat to the South African economy, warned Nedbank economist Walter de Wet on Monday.

A lot of South Africans, though, maybe enjoying a false sense of security now as the rand rebounded slightly on Monday and there have yet to be any significant knock-on effects from the reduction in trade and travel between the two countries. “The real impact of negative Chinese growth will not be felt immediately in places like South Africa,” he said.

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