China-US trade spat hinders local growth prospects

- | 7 months ago

JOHANNESBURG, (CAJ News) – THE outcome of elections in South Africa is poised to culminate in major economic reforms but the renewed trade war between China and the United States Ameria (USA), as well as insufficient power supplies, are feared to scuttle growth prospects.

South Africa, the continent’s most advanced economy, recently held general elections that saw the African National Congress (ANC) retain power on a campaign premised on addressing economic imbalances and addressing widespread corruption. President Cyril Ramaphosa’s ANC retained its majority, with 57,51 percent of the vote – down from 62,15 percent in 2014.

Main opposition Democratic Alliance’s support declined to 20,76 percent from 22,23 percent, while the Economic Freedom Fighters’ share increased to 10,79 percent from 6,35 percent.

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