Tag: international trade

The trouble with forex controls is that they are far more effective at keeping money 'out' than at keeping it 'in'. Almost every historical case shows that forex controls were conceived in shamed and weakened circumstances. In every case they have ultimately proven to be unalloyed failures.

Over the past 20 years the global political economy has experienced its most profound shifts since the onset of the industrial revolution. In South Africa and the World, Mills Soko reflects on some of the salient issues that have pervaded public discourse during this time, analysing them within the context of the contemporary South African political economy and of the country’s position in the world.

In a general South African sense, the word 'transformation' has taken on an important, but perhaps singular and distinctive meaning. To be of real economic value to the nation as a whole, transformation needs to be inclusive across a broad range of South African society.

If Africa wants to change how it trades with the rest of the world, it needs to start by rethinking how it trades with itself. Without urgent improvement, Africa risks remaining a supplier of solely primary materials to which others add value. But to succeed in moving higher up the global value chain, Africa will first need to develop efficient local and regional supply chains to facilitate higher levels of trade within the continent itself.

According to the World Trade Organisation (WTO) a transparent, predictable and efficient regulatory and administrative framework leads to an effective Policy Advocacy. In a study...