As I have said before, the emergence of China is not complete and has many years to run. Right now, China’s economy is slowing. This is a reminder that China’s economy has cycles, like economies everywhere. But even if it slows a lot, it will pick up again in due course and will probably grow pretty strongly, on average, over many years.
This holds even more when we consider that many parts of the Basel agreements are implemented not only by the members of the Committee like South Africa, but by over a hundred countries worldwide. These include many other African countries, of course – countries as diverse as Kenya, Malawi, Egypt, Nigeria and Mozambique, to name just a few.