Secretary to the Treasury Fredson Yamba says the activities happening in China are worrying because Zambia is part of the global community trading with that Country.
Mr. Yamba says Zambia is still alive to the effects of the 2008 economic crisis.
He has since urged the Zambian regulators, policy makers and other stakeholders to urgently evaluate the current regulations in light of the developments with a view to aligning regulatory regimes to the current global practices.
Mr Yamba was speaking in Lusaka on Wednesday at the Bond and Derivates Exchange -BADEX breakfast under the theme New Capital Markets and financial innovation: the case of BADEX.
The Secretary to the Treasury said the Zambian economy should diversify financial services beyond traditional banking as a boost to capital markets.
And BADEX Chief Executive Officer Peter Sitamulaho said Zambia is the second Country in Africa after South Africa to have BADEX on the market.
Mr. Sitamulaho said BADEX will take a lead in job creation and skills transfer.
We are waiting for the 500,000 jobs.
It is 2008 all over again, only difference is that the crisis is starting from the East. We hope USA is strong enough to avoid the collapse of that time. As for us, there is not much that we can do. We always sing about diversifying the economy from commodity exports to agriculture and manufacturing, but it’s all lip-service. We are exposed and are at the mercy of the global uncertain trends.
President Mwanawasa made Zambia to sail above the 2008 crisis. It is easy, Bolster food production and exports. A weakened Dollar is a goldmine for exporters and Zambians alike. In fact gas needs to go down in price now.
Even before this we used to trade with China. So what mister Yamba is stating is none material. just do your job or let President Nawakwi do it for you.
Viva President Nawakwi.
So now every thing is China either good or bad in this global economy, America is already crying foul over the abrupt down fall of the DOW to its lowest levels in years on wall street market 2 days ago and they have adamantly put the blame on China for poor performance of DOW, yet they forget that they owe China Trillion dollars in debts.
Its time also you reaped from Chinese systematic risks just other are rather than simply taking a position
Check the Shanghai Composite Index The Japanese Nikkei Check the Euro stoxx 50 or Dow Jones then see the Standards and Poor 500 see the performance in the period 20 to 26th and particularly 23 and 24 th and see the movements in stocks in various markets
See the Chinese market behave like the “‘ black monday”‘ once experienced in the US it started from China in the fallout averaging $3 Trillions in markets Some markets when you observe have gained
I observed luse but could not see immediate movement in the All share Index making me believe someone could benefit from investing in these emerging markets stocks I am not sure whether its the efficiency reflected