South & Southern Africa: lessons from emerging markets
"The rapidly evolving process of globalisation has posed a number of key economic challenges for South and Southern Africa. Globalisation has resulted in a rapid acceleration of economic activity across borders, where knowledge has become increasingly mobile, and geographic location and time zones no longer prove to be obstacles. There has been a new emphasis, too, on regional groupings,but in Africa these groupings face unusual challenges. For one, the small size of African economies does not create an imperative for these states to engage with each other when links with developed countries apparently offer access to larger, and potentially more lucrative markets. Moreover, Southern Africa would appear to suffer from unique challenges: the devastation wrought by thirty-something years of conflict coupled with poor post-colonial governance has left behind a difficult legacy.South African businesses have taken full advantage of their comparative advantage in Africa and the Republic's trade and investment relations with the rest of the continent have increased dramatically since the end of isolation. Where does this leave formal integration schemes in Southern Africa, and what can these hope to achieve?"