Industrial policy: Will it have the power to change the economy

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Many economists argue that every country needs an industrial strategy. Countries like the US even have one – they have the military. In South Africa, some might well argue that the multi-billion rand arms deal was an attempt at following the US example. Needless to say, Cosatu has often stated that the country has a trade rather than industrial ploicy. It is therefore interesting and opprtune to note that in the build-up to the next round of World Trade Organisation (WTO) talks in Hong Kong, a process has been initiated by the DTI to finalise an industrial policy. The Labour Bulletin explores the origins of the renewed focus on an industrial policy, current debates and whatever happened to the ill-fated Integrated Manufacturing Strategy (IMS)

 

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