Everyone's blaming the Chinese, but that's incorrect - Dawie Roodt on economic slump

The rand tumbled the most since 2011 on concern the plunge in commodity prices will deepen as China’s economy slows.

Director and Chief Economist of the Efficient Group Dawie Roodt says, while China plays a significant role in the economic downturn, the country is not solely responsible.

Roodt speaks to Jerusha Sukhdeo-Raath. Watch.

Fin24 reported the rand led declines in emerging-market exchange rates, hurt by lower prices for resources that account for more than half of its exports. Losses have been exacerbated by concern over growth in China, the top destination for South Africa’s raw materials, and the prospect of higher US interest rates.

READ MORE: Rand sinks most since 2011 as commodities tumble.

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