A local Economist has noted that the Trade War between the US and China will also have a direct impact on Zambia as it affects the rest of the global market.
Noel Nkhoma, who is also Betternow Finance Chief Executive Officer, tells Money FM News that this will also cause a twist in the balance of payments between the two countries which in turn will affect export revenues.
Mr. Nkhoma says this will then affect some of the incentives offered to African Countries including Zambia in the short to Medium term.
He has however noted that despite the negative effects of the war, the end result will be positive for Africa as he has quoted the US president Donald trump as saying that he wants to offer support to African countries that are indebted to China.
China and the United States are locked in an ongoing trade war as each country has introduced tariffs on goods traded with the other.
US President Donald Trump had promised in his campaign to fix China’s “longtime abuse of the broken international system and unfair practices”.