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Zuma, Musk, and the Randzuma, Musk, and the Rand

Zuma, Musk, and the Randzuma, Musk, and the Rand

In our digital world, more and more important decisions are now made by algorithms. On Tuesday, the rand, South Africa’s currency, instantly surged more than one percent when a dubious website published a fake story that President Jacob Zuma had resigned, triggering an automated decision to buy.


At first, the story seemed credible, because Zuma is no longer leader of the African National Congress (ANC), his political party, and because some within the ANC (and the opposition) are working hard to force him from office.

Then the story got weirder. News wires quoted a US congressional aide who said that Zuma was “missing.” Algorithmic traders didn’t immediately realize that, in this case, the name Zuma referred not to South Africa’s president but to the code name for Elon Musk’s latest mission to launch a military satellite. (Musk is from South Africa, not that that clarifies much of anything.)

Is that satellite really missing? No one will say. Is Jacob Zuma missing? No, he’s still in power, at least for now, aggravating investors and many South Africans. Did the rand recover? Yes, within minutes. But these are the kinds of stories we better get used to. Fake news and algorithms will sometimes combine to generate market-moving confusion. Don’t be surprised when bad actors try to mimic the conditions that created this situation to upset financial markets — and, perhaps, politics.

Empathy and listening are key to establishing harmonious relationships, as demonstrated by Callista Azogu, GM of Human Resources & Organization for Nigerian Agip Oil Company (NAOC), an Eni subsidiary in Abuja. "To build trust is very difficult. To destroy it is very easy," says Callista, whose busy days involve everything from personnel issues to union relationships. She sees great potential for her native Nigeria not only because of the country's natural resources, but because of its vibrant and creative people.

Learn more about Callista in this episode of Faces of Eni.

For the world's wealthiest nations, including the United States, the rollout of COVID-19 vaccine has been rocky, to say the least. And as a result, much of the developing world will have to wait even longer for their turn. Part of the challenge, World Bank President David Malpass says, is that "advanced economies have reserved a lot of the vaccine doses." Malpass sat down with Ian Bremmer recently to talk about what his organization is doing to try to keep millions around the world from slipping deeper into poverty during the pandemic. Their conversation was part of the latest episode of GZERO World.

Saturday will mark the beginning of an historic turning point for European politics as 1,001 voting members of Germany's Christian Democratic Union, the party of Chancellor Angela Merkel, hold an online conference to elect a new leader.

Here are the basic facts:

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For the first time in twenty years, extreme poverty around the world is growing. How does the developing world recover from a pandemic that has brought even the richest nations to their knees? David Malpass, the President of the World Bank, is tasked with answering that question. He joins Ian Bremmer on GZERO World to talk about how his organization is trying to keep the developing world from slipping further into poverty in the wake of a once-in-a-century pandemic.

Joe Biden wants to move into the White House, but the coast isn't clear. He may need some bleach.

Watch more PUPPET REGIME here.

The GZERO World Podcast with Ian Bremmer. Listen now.

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