Mboweni urges US, China to resolve trade war for the good of global economy

Finance Minister Tito Mboweni.

JOHANNESBURG, September 2 (ANA) - The trade war between the United States and China was not helping the global economy and would be in focus during this week's World Economic Forum on Africa, South Africa's finance minister Tito Mboweni said on Monday.

South Africa will on September 4-6 host the forum in Cape Town which will, under the theme "Shaping Inclusive Growth and Shared Futures in the Fourth Industrial Revolution" discuss the continent's readiness for the phenomenon, as well as cooperation in sustainable development, digitalisation and stability on the continent.

"The biggest issue which forms part of the background to the meeting is the global trade tensions which are consuming the world," Mboweni told a news conference in Johannesburg ahead of the forum.

"The trade war between the US and China is not helpful, is affecting the markets generally, whether it’s the commodity market or it’s the currency market.

"The issue of the trade war and these trade tensions is a very important one for us and I’m quite certain that during the conversations this issue will keep coming to the fore, in order that this message must get through, particularly to those people in Washington, that these trade wars are not helpful, to us and to the global economy and that the quicker these issues are dealt with the better," he said.

Mboweni said the WEF Africa conference was not a consultative meeting or a place to exchange ideological positions, but rather a forum to exchange ideas about the state of the global economy in general, as well as African economy.

It was also an opportunity to discuss the state of play in business dealings, he added.

- African News Agency

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