Corona might suffocate the economy and 5 highlights from 'Vrye Weekblad'

Only R10 for the first month!

Weakened growth in China is bad news for our exports. China is the main market for our iron ore, chrome, manganese and other commodities, and less growth means less need for them. The mining sector is particularly vulnerable to this, but the agricultural sector has already warned that the export of wool, fruit, vegetables, grains and red meat could be negatively affected.

Small business would also suffer. Niche products, such as the ends of shoelaces, are primarily produced in China, and if Chinese production is slow to resume, retailers would suffer.Corona is also a threat to tourism. While China is not one of our main sources of tourists, it is an important growth market. Fear of being infected may lead to people postponing trips.

There can be no doubt that Covid-19 will damage our GDP outlook, and in all likelihood 2020 will be another year in which our economy stagnates.

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