A sense of unease prevails amid heightened geopolitical tension, the emergence of "populism", recurring threats of European economic and monetary union disintegration, trade war fears and Brexit. It does seem fair to argue that, taken together, they signal a challenge to the global world order, which has dominated economic and market outcomes for decades. A central pillar of this "economic order" is globalisation and the removal of barriers to the free movement of people, goods and capital around the world. The positive correlation between freedom from restrictions on economic activity and rises in productivity, growth and job creation has been extensively documented. However, economic success is no longer measured solely in terms of GDP growth and employment numbers. Rather, looking ahead, inclusivity and greater equality have become the goals in the pursuit of improving living standards. The World Wealth Income and Database shows the change in income patterns for different countri...

BL Premium

This article is reserved for our subscribers.

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 Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now