The bank noted that beyond the growing division and unilateralism behind the US, China trade tension and Brexit, there is increasing shift towards integration and multilateralism in the developing world, which present opportunities for partnerships and growth.
“Every corporate and every country needs to be aware of changing geopolitical realities and the opportunities that these present for new partnerships and growth,” says Vinod Madhavan, Head of Trade at Standard Bank, in a presentation entitled, “Technology steadily deepening international trade as global multilateral leadership shifts East”.
He said, “the United States–China trade war has already seen China, the world’s largest consumer of soya beans, halt imports from the United States. This presented a huge opportunity for countries like South Africa. While Australia, in the end, was the main beneficiary of this shift, other opportunities are likely to arise for Africa. Similar opportunities are also likely to emerge with both the United Kingdom and the European Union following Brexit.
“Emerging market credit stress also presents an opportunity to re-configure lending and risk distribution relationships within the developing world. The signing of the African Continental Free Trade Area, AfCFTA, agreement increases the opportunity for the continent to significantly increase intra-African lending and risk distribution.
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