NEWSLETTER ISSUE #2/2016
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TIPS Development Dialogue
On 21 January, a number of TRADE members attended a Development Dialogue arranged by TIPS (Trade and Industrial Policy Strategies) on the topic of Global and Regional Value Chains and how these are creating both opportunities and challenges for South African and regional policymakers and businesses. There was an impressive line-up of speakers: Dr Tom Farole (lead Economist at the World Bank), Prof Faizel Ismail (professor at the UCT School of Economics) and Prof Ben Turok (former ANC MP). They spoke about the economic advantages of GVCs and RVCs but indicated that South Africa has complex socio-economic circumstances which need to be properly addressed before a GVC/RVC philosophy can be embraced. Multinational activity in Africa has sometimes led to the suppression of domestic industries, but foreign capital is essential for a country’s development. Clearly, South Africa needs to strike the right balance between its own domestic interests and those of its regional and foreign trading partners if it is to take advantage of the GVC/RVC phenomenon.
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Global Value Chains (GVCs) under the spotlight
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