Cast your mind back to 2008, it was an interesting time globally, for the United States it was the final year of the George W. Bush presidency and the thirst for change both economically and socially was awash in the States. Barack Obama would go on to defeat John McCain in the presidential election and the campaign slogan he had ridden to victory on would become the overwhelming term to define the political zeitgeist of the time, Yes We Can.
But 2008 won’t only be remembered for the tide of optimism and political change it brought with it, for a looming financial crisis that would rock the world economy and ultimately bring down the Lehman Brothers firm was about to hit global markets like a tidal wave. Boom went the housing bubble taking down with it the worlds’ economies and plunging us all into recession.
We may not quite be there yet with Chinese property developer Evergrande but in reading Rob Rose’s latest piece for Financial Mail (for subscribers) one might be forgiven for seeing the similarities between now (2021) and then (2008).
Rose writes about the financial ties Evergrande has and what the implications are for the companies with investments connected to the Chinese firm, including that of South African JSE powerhouse, Naspers.
While we may not be doomsday prophesiers just yet, the piece is well worth the read and the consequences worth deep consideration.
Here’s a roundup of interesting opinions and analyses:
Apple could lose its app cash cow – Toby Shapshak, Daily Maverick
Despite its outstanding delivery record, the DA is its own worst enemy – Ismail Lagardien, Daily Maverick
Vaping bill will smoke the economy, not spark it – Asanda Gcoyi, Sunday Times Daily
The sugar tax is working. Now double it – Adèle Sulcas, Fin24
The age of stupid ANC money – Gareth van Onselen, Business Day (for subscribers)
Old school banks needn’t fear — mobile money needs them – Matthijs Eijpe, Financial Mail
Age, gender and race: What do the main parties’ supporters look like? – Mari Harris, News24 (for subscribers)
