AYABONGA CAWE: Time for next phase of national reconstruction
A programme should include raising domestic industrial production, as well as agrarian, land and institutional reforms
Recent developments across the globe set the scene for what the seventh administration’s economic cluster may have to contend with after the establishment of the incoming government. In the past 12 weeks we have seen developments that signal a step-change in key destination markets for our exports, which are in the throes of hotly contested ballots in the coming months.
While industrial policy may no longer be a swear word in academic and policy circles, its conversion to what is now acceptable doctrine and practice has been riddled with contradictions. In the US this is seen in how the bipartisan support for industrial strategy may result in an overzealous application of tariffs alongside a friend-shoring that repartitions the world — a meaningful reversal from a world in which information, merchandise and capital have moved with little restrictions worldwide with some admitted benefit, despite the challenges. ..
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