To realise sustainable growth, the economic superpower must change tack, and South Africa must be ready to adjust
Afterall, the economic superpower is the largest trading partner to all but one of the original Brics member countries. China also binds together the expanded alliance — which includes Saudi Arabia, Argentina, Ethiopia, Egypt, the United Arab Emirates and Iran.
China’s might will probably prevail well into the future. But when its economic strength falters, its trading partners must try not to be thrown off kilter. In other worrying news, new loans extended by Chinese bank’s fell 89% month-on-month in July to the lowest level since November of 2009. According to the BER, lending tends to decline in July due to seasonal factors, but the latest reading was 679 billion Chinese yuan below the same period last year.
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