Is the current state of the global economy such that free trade is a luxury we can't afford at the moment?
Shortage of jobs. Global competiveness being taken out of our hands.Finance Minister Pravin Gordhan warned on Tuesday that the so-called currency wars could lead to what he referred to as "trade wars" if they are allowed to continue.
Gordhan was speaking at the National Consumer Goods Council of South Africa's annual conference.
"The danger that we face as the world is that in an effort to keep our own countries going, where each country tries to become competitive on the basis of the so-called competitive currencies, that will result in a currency war. But this could result in a trade war where countries will put up barriers," Gordhan said.
full story from M&G here
Maybe it's the time to have some protectionism against imports to encourage more home grown industry?