By Al Jazeera
China has devalued its currency once again sparking fears of a global currency war that is unsettling global financial markets.
Emerging and developing nations have been the hardest hit and have seen their currencies fall to multi-year lows.
Analysts say the move is designed to keep Chinese products competitive with weaker exchange rates.
But as it manipulates its currency to eke out an economic advantage for its exports, economies such as South Africa are felling the pinch as demand for commodities and raw materials wanes.
Sim Tshabalala, the co-CEO of Standard Bank, joins Counting the Cost to discuss the currency war and the economic fallout on South Africa.
Source:: Al Jazeera
http://bc05.ajnm.me/665003303001/201508/2635/665003303001_4423847966001_CTC-clip—Currency-Wars.mp4?videoId=4423625795001
The post China, South Africa and the ‘currency wars’ appeared first on African Media Agency.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate