/ 12 March 2024

Austerity extinguishes industrial policy revival

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Covid-19 laid bare the failures of South Africa’s efforts to industrialise, which had remained, at least in theory, a cornerstone of the country’s macroeconomic policy since its transition to democracy. Photo: Kevin Sutherland/Bloomberg/Getty Images
South Africa risks falling behind as much of the rest of the world embraces industrialisation to grow and protect economies

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