China, US trade war to hurt Zambia

THE trade war between China and the United States of America is a threat to the Zambian economy, World Bank country manager Ina-Marlene Ruthenberg has said.
Ms Ruthenberg says the trade war between the top two global economic giants could lead to a reversal of copper price gains on the international market on account of slower growth in China.
She said the anticipated lower copper price is expected to worsen Zambia’s debt and deplete foreign exchange reserves.
Copper prices have fallen by 19 percent resulting in the depreciation of the Kwacha against major convertible currencies, tighter monetary policy and a strained financial system.

Facebook Feed