The G-20 and Key Issues Pertaining to South Africa’s Growth Strategy
Written by Peter DraperSouth Africa’s current growth rate, and trajectory, is weak. Global circumstances, notably our exposure to continued European stagnation and financial market tapering by the US Federal Reserve Bank, are partly to blame. Structural conditions, particularly continued commodity dependence, weak manufacturing capacity, skills shortages, and infrastructure bottlenecks, also play a role.
The Unfair Nature of the World Trade Organisation
Written by Kanelo PitsoThirteen years ago the World Trade Organization (WTO) essentially promised to put developing states needs at the forefront of international trade negotiation agenda. The start of the Doha Development Round of trade negotiations, in November 2001, saw the adoption of a Ministerial Declaration that was a positive response to the anti-globalisation riots and challenges seen at the ends of the 1990s. The five-day protests called the 'Battle of Seattle', which…
Washington after Fortaleza
Written by Christopher WoodFour months after the BRICS (Brazil-Russia-India-China-South Africa) launched their New Development Bank and Contingent Reserve Arrangement (CAR) at a Summit held in Fortaleza, Brazil, the World Bank and IMF convened for their Annual Meetings. For all the fanfare that met the announcement of the BRICS’ new financial infrastructure, not a lot has changed.
Global Economic Governance: Radical transformation or incremental reform?
Written by Gunter BenderIn a recent interview with BBC Hardtalk, the economist and futurologist Jeremy Rifkin propounded a radical new vision of capitalism, or rather the end of capitalism, one where people produce their own energy, produce and share what they need and build an economy based on collaboration not competition.
South Africa in the G20: Changing perceptions of Africa?
Written by Emma Bonvalot-NoirotFor some the Group of 20 (G20) is synonymous with political symbolism, for others the G-20 yields much influence in setting agendas for the global economy through the framing of discourses and the prioritisation of some ideas and policies over others. For South Africa, being the only African member of the G-20 brings with it the – at times, burdening – ‘first in Africa’ label. Although internationally of relatively small…
Africa at Jackson Hole
Written by Christopher WoodThe Jackson Hole summit (officially the Federal Reserve Bank of Kansas City’s Economic Symposium, held 21-23 August 2014), was one of the more subdued in recent memory. Every comment coming out of the annual retreat of the world’s top central bankers has been closely scrutinised over the last few years, as nervous markets searched for clues on how regulators would manage the financial crisis and the ensuing recovery. But even…
South Africa and the G-20
South Africa is the only African member of the Group of 20 (G-20) and therefore carries the weight not only of its own national interests but of being a voice for the concerns of African and low income countries. While South Africa has no official mandate to represent anyone but itself, there is implicit pressure to ensure that those countries and institutions who participate in the G-20 processes at least…
Creating infrastructure for the New Development Bank is a milestone for BRICS
Written by Sanusha NaiduThe seaside resort of Fortaleza in the northern part of Brazil was the destination for the sixth summit for the Brazil, Russia, India, China and South Africa (BRICS) group of nations. Flying into the city, one would not be immediately aware it was playing host to this increasingly significant geo-strategic platform of the Global South. Daily life moved along routinely.
South Africa's changing economy in the context of BRICS
Written by Wolfe Braude