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Globalisation and free trade are not enemies

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Short-termism and expediency are the enemies of the positive forces of free trade and globalisation, say SARB deputy governor Daniel Mminele and Andreas Dombret, a member of the executive board of the Bundesbank.

WE ARE living in times of elevated uncertainty which could intensify in the period ahead, given the heightened risks to global growth brought about by the current geopolitical environment.

We have been witnessing a rise in populism against multilateralism and globalisation. As both the Brexit vote in the UK and the presidential election in the USA made clear, there are increasing concerns with regard to the burden resulting from globalisation and therefore higher support for tighter controls on trade and migration.

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