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Vol 48 No 5

Published 2nd March 2007


South Africa

Mining revolt

The global stock market jitters on 27 February - prompted by 9% falls on the Shanghai and Hong Kong markets - hold two lessons for South Africa. Firstly, that international worries about emerging markets will always trump South Africa's own economic merits. So as world stock markets fell, the rand lost 1.9% against the US dollar despite South Africa's better than expected GDP growth of 6 % in the final quarter of 2006 and the latest wave of multi-billion dollar inward investment.

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