STUART THEOBALD: SA can learn from experience as we suffer a dose of the past century’s crises

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The financial turmoil will feature some elements of the Great Depression, a world war, the dot-com bubble and the 1970s oil crisis

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Will this economic crisis be like the global financial crisis? The 1998 emerging-markets crisis? The 1970s oil crisis? World War 2? The Great Depression?

The answer is: some elements of each. The financial system will come under intense strain, as in 2008, with a spike in bad debts. Emerging markets, including SA, will face intense funding and foreign exchange pressure, as in 1998.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

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