The global trade war between two of the world’s largest economies has the potential to render global growth less synchronised, less certain and less supportive of emerging economies. Moreover, weaknesses in the global economy would make it even more difficult for South Africa to accelerate its fortunes and for the metals and engineering (M&E) cluster, the mining and construction sectors and the auto manufacturing industries to maximise their potential, Steel and Engineering Industries Federation of Southern Africa Chief Economist Michael Ade said this afternoon. Speaking at the Southern African Metals and Engineering Indaba, Dr Ade said the four sectors needed higher growth levels underpinned by better productive efficiency. He also said that instead of continuously depending on government to boost demand via various interventions, stakeholders in these sectors needed to rally to support each other.
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