ONE DOWN, OTHER UP
ONE DOWN, OTHER UP – Labour shenanigans push the value of the rand up, and rand-hedge stocks lift the Johannesburg Stock Exchange to record heights. That is the irony of a currently unstable South Africa, where first-quarter gross-domestic-product growth fell to a worrying below-par 0, 9%. Threats of more labour strife and 60% wage remands are causing a debilitating domestic overhang that is being worsened by concomitant global economic headwinds. Little wonder that Reserve Bank Governor Gill Marcus is calling from strong political leadership out of the impasse.
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