Trump presidency to spell gloom for SA, says expert
Patrick Bond said some of the relations the country had developed with the US would be discontinued under the Trump administration.
File picture: In this Wednesday, Dec. 28, 2016 file photo, US President Donald Trump listens to a question as he speaks to reporters at Mar-a-Lago, in Palm Beach, Fla. The 18-hole golf course in Dubai bearing Donald Trumps name exemplifies the questions surrounding his international business interests. The course will open in February 2017 in the United Arab Emirates, but concerns about security, financial agreements and other matters have yet to be answered by the incoming 45th American president. (AP Photo/Evan Vucci, File)
The coming of Donald Trump onto the international political stage will see a lot of serious political conflicts in the world, accompanied by a rise in right-wing politics and fascism.
This was the view of political economy professor at the University of the Witwatersrand’s school of governance, Patrick Bond.
During his talk in Johannesburg on Wednesday, Bond said the billionaire – a political newbie and being inaugurated as the 45th United States president tomorrow – had radical ideas.
He said some of the relations South Africa had developed with the US over the years would be discontinued under Trump.
Bond said the African Growth and Opportunity Act, along with vehicle exports, were in the line of fire.
“This means some exporters like the Ford Motor Company may have to start laying off workers at the factories in South Africa,” Bond said.
“Local exports to the US could have higher tariffs, as Trump has threatened trade wars to protect the US’s manufacturing sector.”
This would result in even higher unemployment for the local market.
“That would make Fitch, Standard & Poors and Moody’s to declare local bonds junk status as early as June,” Bond said.
“The South African Reserve Bank’s monetary policy would have to be structured so it attracts more capital inflows without raising interest rates.”
Bond said the Trump era would propel right-wing politics.
“Trump is very attractive to right-wing white nationalists, the working-class white patriots and neo-Nazis, who are all dangerous if you are an African-American, a Mexican-American, a Muslim or woman.”
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