What We're Watching
South African leader defends land reform to Elon Musk
Close up of South African flag.
IMAGO/Westlight via Reuters Connect
Why was the law changed? Even though apartheid ended 30 years ago, and white South Africans are only 7.3% of the population, as of 2017 they still possessed 72% of privately owned farmland. Critics warn, however, that a new expropriation law risks replicating the experience of neighboring Zimbabwe, where seizures of white-owned land in the name of racial equity devastated agricultural productivity and discouraged foreign investment.
This week, Republican US Sen. Ted Cruz said he will use his position as chairman of the Africa subcommittee of the Foreign Relations Committee to “investigate these and other concerning decisions” by South Africa. Cruz also criticized Pretoria’s directive last month to Taiwan that it relocate its Taipei Liaison Office from the capital before the end of March, posting to X that “the South African government seems to be going out of their way to alienate the United States and our allies.” China is South Africa’s largest trading partner and encouraged the country to sever relations with Taiwan in 1997.Mastercard Economic Institute's Outlook 2026 explores the forces redefining global business. Tariffs, technology, and transformation define an adaptive economy for the year ahead. Expect moderate growth amid easing inflation, evolving fiscal policies, and rapid AI adoption, driving productivity. Digital transformation for SMEs and shifts in trade and consumer behavior will shape strategies worldwide. Stay ahead with insights to help navigate complexity and seize emerging opportunities. Learn more here.
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