This has resulted in a downward revision of growth targets, but has also meant that demand for commodities is not as strong as it was previously. While a growth rate of 7 per cent would seem unattainable for South Africa, it is relatively low by recent historical standards for China.
BIS central bankers’ speeches  1  Domestic outlook The spill overs on to South Africa from these developments are significant. The US impact is through the exchange rate and long term bond yields, which are highly correlated with those in the UK.