2020 has been a year of historic economic upheaval. Shocks in the market have impacted trade, inflation, employment, national budgets—sparking an unprecedented global recession to which even stable economies are not immune.
On my most recent trip, I surveyed Dar es Salaam, the commercial capital and most populous city in Tanzania. While conducting my survey, I observed that several areas have developed in order to cater to expatriate needs. While overall availability of goods and services is consistent, certain categories are lacking and require purchases to be made on home leave or through travel to nearby international cities, like Nairobi.
The decision to move the Nigerian capital from Lagos to Abuja was made in 1976. However, after many years of planning, development, and construction, Abuja finally replaced Lagos as the political capital in 1991.
Before my trip to Brazil, I heard both positive and negative impressions of the country. Since it was my first time visiting, I was interested to see which kind of experience I’d have. It ended up being a bit of both.
Price elasticity can be defined as a measurement of the change in demand when the price of a good changes. While this number can range from 0 to infinity, it is most commonly thought of as 0 to -1 and referred to in absolute value (positive values only) terms.
I arrived in Cape Town during Stage 4 load shedding, when state-run energy company Eskom was conducting one of four scheduled two-hour blackouts. In Camps Bay, I passed expatriate quality homes along the water and saw that every home displayed a large security company sticker. I also noticed that, even during a blackout, electric fences were still buzzing.
While the COVID-19 pandemic continues to disrupt global markets, depreciation has slowed in many locations and some currencies are beginning to recover lost value. Let’s take a look at some notable currency movements of the past month.
On 21 May 2020, the Chinese government proposed enacting a new law in Hong Kong on national security regulations, under the provisions of Annex III of its basic law. This proposal, while lacking many details, has created speculation and concern regarding the impact it may have on the political and business environment in Hong Kong.
June 1 marked a day of changing times in Venezuela. The price of gasoline in the country has been among the lowest in the world for decades, and in recent years, currency depreciation has made the resource practically free.