ECONOMY
Downside aspects of globalisation thrive where the state is weak
The burning question for South Africans is what it will take to improve our game in the midst of deviant trends
The deep fault lines in the global economy are increasingly being voiced by leading elites in many countries and international institutions. At the Group of 20 meetings in 2016 in Hangzhou, China, Australian Prime Minister Malcolm Turnbull spoke of the need to "civilise capitalism" and International Monetary Fund head Christine Lagarde said growth had been "too low for too long for too few". Martin Wolf of the Financial Times argues eloquently that "to maintain legitimacy economic policy must seek to promote the interests of the many and not the few". These statements echo increasing concern with the current trend in globalisation, which is fuelling populism in many countries. Yet few global solutions are offered. The answers we provide will have to begin at home. The fact that these issues have been raised in international forums and will be raised again at many other forums, should spur national governments to come up with more creative solutions that advance the interests of the ...
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