[ad_1]
At a time when the COVID-19 pandemic has ruined the global economy, countries around the world are struggling to rebuild their finances.
This combination of file images created on September 28, 2020 shows Democratic presidential candidate Joe Biden (L) speaking in Tampa, Florida, on September 15, 2020, and US President Donald Trump speaking during an event for Black supporters at the Cobb Galleria Center on September 25, 2020, in Atlanta, Georgia. Image: AFP
JOHANNESBURG – With all eyes on the outcome of the US presidential election, economists said South Africa needed to pay close attention as the results would have an impact here at home.
At a time when the COVID-19 pandemic has ruined the global economy, countries around the world are struggling to rebuild their finances.
And with the United States as a global superpower, the race for the White House will have a lot to do with the recovery process.
Given that the United States has one of the largest economies in the world, economists said that the stability of the United States was also critical for South Africa.
Viv Govender of Rand Swiss Offshore said the outcome of the US elections would have an impact on South Africa’s plans to recover from the economic crisis.
“The political instability in the US means that we are unlikely to see a large scale of government plans to try to pull the economy out of the COVID crisis.”
Economist Mike Schussler said that the United States was one of South Africa’s biggest trading partners and that the outcome of these elections would affect us too.
“We have the Law on Free Trade of Opportunities and Growth in Africa, which allows our products to be duty free. If that were to be reversed in the next period, it could have a detrimental impact in many areas of South Africa. “
The outcome of the US elections will lead to a new four-year term in the White House for the successful contender, who will have the power to make significant political change as the world struggles to recover from COVID-19.
Download the EWN app on your iOS or Android device.
[ad_2]
