Answer to Question #219766 in Macroeconomics for jordan

Question

. The South African economy, like most world economies, has been struggling following the COVID-19 pandemic. Give a diagnosis of the health of the South African economy following the changes in it’s macroeconomic indicators in the past 5 years. Your analysis should: (20 marks) ˆ Include all macro-economic indicators that explain the health of the macro-economy. ˆ link all these macroeconomic indicators to the circular flow diagram. No need to draw it. ˆ Give an overview of the South African economy showing the trends in the past decade. 

Answer 1

Although the number of COVID-19 cases and deaths in Africa may appear to be lower than in other parts of the world, the looming health shock of COVID-19 could have severe consequences for the continent's already stretched health systems fast turning into a social and economic emergency. Aside from health issues, the COVID-19 shock to African economies comes in three waves: immediate lower Chinese trade and investment, a demand slump connected with the European Union and OECD lockdowns, and a continental supply shock hurting domestic antra-African trade.