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Gordhan takes a stand for emerging markets at #WEF17

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World Economic Forum / Greg Beadle

Cape Town - Although the US as a super economic powerhouse impacts the rest of the world, emerging markets also matter to the global environment.

This was the message from Finance Minister Pravin Gordhan on the global stage at the World Economic Forum (WEF) in Davos on Tuesday.

Wearing a black suit, white striped shirt and blue tie, he said optimistically that in his view South Africa is relatively in a safe space in light of an accelerating dollar, owing to a rise in US benchmark interest rates.

He was speaking in a panel discussion about the outlook for global growth markets.

"The US is very big and they say whenever it sneezes the rest of us catch a cold," Gordhan admitted, however he also noted the inter-connectedness of emerging markets and the US.

"If emerging markets and developing markets are the major contributors to global growth, globally speaking, what happens is, in respect of growth in those countries, matters to the global environment as well."

Gordhan said in the last two year the Fed has displayed a kind of sensitivity to their decisions having particular kinds of negative impacts on emerging markets.  

"[That is a factor we hope will not be lost ... because US decisions are not contained within the US borders, they actually impact on the rest of the world and particularly on emerging markets as well".

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