Big protests in Cuba and South Africa
Widespread looting took place in South Africa on the weekend while a rare large pro-freedom rally was held in Havana.
The trigger for the South Africa wave of protests was ostensibly the jailing of former President Jacob Zuma but also comes after further lockdowns and is partly a result of 32.6% unemployment. The rand fell 1.9% but has been recovering in the past few hours.
JUST IN – Every single store in the Jabulani Mall near Johannesburg has been looted. Reports and videos of riots at more malls in parts of South Africa.pic.twitter.com/t5DL96EVIM
— Disclose.tv 🚨 (@disclosetv) July 12, 2021
Keep an eye on emerging markets in the months ahead, especially if inflation remains high. Protests always have a multitude of causes but inflation is often a precondition. Recall that the Arab Spring protests — which toppled many governments — began as food inflation protests. So did the French revolution.