"There is clearly strong opposition building to globalisation" JP Landman

JP Landman says there are clearly headwinds suggesting globalisation is running into economic trouble.

The self employed analyst and economic adviser for Accelerated and Shared Growth Initiative for South Africa (ASGISA) was speaking at the Old Mutual Wisdom Forum in Joburg, commenting on whether globalisation is crumbling or not.

Landman sites poor performance of global growth in trade as a key indicator...

Talking about South Africa, we need trade. We need to export more, to sell what we've got - and its very difficult to do that if other countries shut down and other countries start buying less.

JP Landman, Economic Adviser for Accelerated and Shared Growth Initiative for South Africa

JP Landman (left) appears on the Old Mutual Wisdom Forum panel with Prof Mthuli Ncube (second from the left), Jeffrey Sachs and MC Eusebius McKaiser.

Speaking to Eusebius McKaiser, Landman says tinkering with globalisation isn't enough. He feels aggressive political intervention is needed to drive things in a different direction - similar to the "Roosevelt intervention" of 1930's in the United States.

Without that he says, people will be "left behind" - and no democracy can afford that if it wants to remain stable.

We certainly need a more just international system. You also need more justice inside countries. Can you do that with tinkering? I doubt - you need a more aggressive intervention.

JP Landman, Economic Adviser for Accelerated and Shared Growth Initiative for South Africa

It is at that point in the discussion that McKaiser focuses attention on political leadership.

In South Africa's case, whether we have the necessary skills in leadership to navigate these trying economic times. Landman says voters must also accept their responsibility in this.

He points out how heartening it was to see how business leaders are stepping up to the plate - something last seen in the 1980's - and how he would love to see the same cohesion in the name of job creation.

Some companies do more than others and some individuals do more than others. I think we should all step up to the plate.

JP Landman, Economic Adviser for Accelerated and Shared Growth Initiative for South Africa

Luckily the part of stepping up to the plate we are familiar with is thanks in part to the economic slump created after the second World War and the recession of the 1930's.

We've done it before - we just haven't seen it in the new South Africa...

Click below to watch the full interview.


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