Africa: Everything Has Changed - the World and South Africa's Economy After COVID-19

opinion

The Covid-19 pandemic has changed the world: It is possible that it will take years for the global economy to recover, which will have dire implications for South Africa's economic prospects. The impending global depression and our weak state means that most South Africans will find the coming months extremely difficult to manage.

With the UN calling Covid-19 the worst crisis humanity has faced since World War II, it is trite to say that the pandemic has changed the world as we know it. However, South Africa finds itself in a particularly difficult position as a result of two decades of ANC misrule and poor policy choices. Even before the Covid-19 pandemic bloomed, the country was on the brink of a financial crisis; but now, after a shutdown and a downgrade, there are no longer any delusions - South Africa has tipped.

How hard the landing will be will depend on the hard choices of domestic and international policymakers. There are, however, some trends emerging that give us a glimpse of what the country and the world could be like after the pandemic recedes.

The world

The capitalist world is facing three intertwined crises: A pandemic-induced health crisis, which has...

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