Dynamics of globalisation have left out a lot of people‚ particularly the poor: Gordhan

29 November 2016 - 15:43 By Nomahlubi Jordaan

While globalisation has yielded a lot of benefits‚ its dynamics have left out a lot of people‚ particularly the poor. This is according to Finance Minister Pravin Gordhan who was speaking at a media briefing on Tuesday after hosting a breakfast session ahead of the World Economic Forum‚ which takes place in Davos‚ Swtizerland‚ in January.The theme for this year’s World Economic Forum annual meeting to be held from January 17-20‚ is Responsive and Responsible Leadership.“The realities of the global dynamics at this point in time‚ which have been floating around for a while - and those being: the dangers of inequality‚ GDP growth not being shared evenly in a society‚ where the top earn more than those at the bottom…‚ thirdly high levels of mistrust between elites and citizens and that’s leading to a particular brand of politics and that globalisation has in fact‚ whilst given the world many benefits‚ has also created dynamics that have left out a lot people and the results of that in Brexit‚ dynamics in Europe‚ dynamics in the United States which have consequences for their democratic processes …“The appeal it appears‚ that is being made by the Davos organisers is can we get back to an era where can demonstrate as global leaders from all sectors‚ whether we have the ability to once again act in a coordinated way.“That coordination‚ for example in the G20‚ was very evident in 2008 and 2011 to 2012 and that is what ensured that the great recession didn’t become another depression.“Responsive and responsible leadership are two fascinating concepts‚ both for the globe and ourselves as well‚” Gordhan said.Responsible leadership‚ he added‚ is about integrity‚ understanding the environment in a holistic kind of way and “making sure that you do care about the state of your country and the state of the world as a leader in business‚ amongst trade unions and other stakeholders”...

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