Key Points:

  • Globalisation promotes desirable objectives such as economic growth, reductions in poverty and inequality, good governance, and personal freedom.
  • Increased trade in goods and ideas will continue to produce long-term benefits, whereas movements in the opposite direction will mostly destroy both freedom and growth.
  • What globalisation actually means is that states have to become more democratic. As long as they do not abuse their powers, they will have a great deal of freedom of manoeuvre.
  • Globalisation is neither the cause of poverty nor a panacea for getting rid of it. Instead, what is vital is for countries to develop the institutions and the politics that will allow them to take full advantage of the opportunities offered by international markets.
  • South Africa’s government should focus on the areas where it has capacity. It should seek to build up the country’s ability to take advantage of market opportunities, and create an environment in which markets could flourish.

Press release: Why globalization works

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