The continued slow economic growth in emerging markets is an increasing challenge as developed economies recover from the recession.
702 and CapeTalk's Redi Tlhabi on Thursday spoke to Xhanti Phayi regarding the issue as South Africa faces more tax levies and higher interest rates.
Listen to the interview below:
The growth in emerging markets was not moving alongside that of developed markets and emerging markets were the new hope led by China.— Xhanti Payi, economist
The reality is that globalisation is still very much alive and we are all still dependent on each other.— Xhanti Payi, economist
For example, the financial markets are very volatile now. There's all sorts of talk on how sustainable and healthy the companies in China are.— Xhanti Payi, economist
There has been some questions regarding whether the growth numbers reflected by China's authorities were genuine. There's a lot of things that are happening in China's economy.— Xhanti Payi, economist