A perfect storm occurs when everything goes wrong at once with the weather. Similarly, SA’s current economic malaise arises from an unusual collision of international and domestic policy uncertainties and economic trends. Effective responses have to deal with this complex situation. It won’t help to fall back on the more usual approach of blaming everything on domestic policy shortfalls, frequently with a view to justifying longstanding conventional policy demands.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.