Chapter Ten - Globalization: A Factor of Worsening Economic Policy Constraints, But also a Source of Opportunities?

Summary

“We start from the belief that prosperity is indivisible; that growth, to be sustained, has to be shared; and that our global plan for recovery must have at its heart the needs and jobs of hard-working families, not just in the developed countries but in emerging markets and the poorest countries of the world too. […] We believed that the only sure foundation for sustainable globalization and rising prosperity for all is an open economy based on market principles, effective regulation, and strong global institutions.”

G20, Leaders' Statement, Global Plan for Recovery and Reform, London, April 2, 2009

Introduction

The economic policy outlined in this book will reposition Africa on the road to economic prosperity for all its citizens. But in life, nothing is easy. Our capacity to execute the plans that we elaborate for our life is constantly under diverse constraints. Some constraints even limit the actions that we can undertake. Others, on the contrary, limit the effects of the actions that we take. Economic policy is no exception to this rule. I will say that it is even more submissive to it than any other thing. Its implementation will therefore require much skill, determination and creativity on the part of officials in charge, especially to manage and remove a number of constraints.