Deglobalisation trend or temporary shock

Josina Solomons

No 11049, Occasional Bulletin of Economic Notes from South African Reserve Bank

Abstract: Since the 200809 global financial crisis (GFC), the rate of growth of global trade has been slowing. Global trade is likely to remain under pressure over the short to medium term, but a broad reversal of globalisation seems less likely. Trade and global value chains could become more resilient through greater diversification of suppliers as well as some degree of reshoring or near-shoring. South Africa has been slow in integrating into global value chains. However, an improved business operating environment, effective industrial policies and the development of stronger regional trade ties could help improve the countrys global integration.

Date: 2023-06-29
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