Viewed from abroad, judging by what people say, observers see an economy that experienced only a relatively mild downturn in 2008–2009, that made up the decline in output within a few months, and that has continued to expand, albeit at only moderate pace, since then.
South Africa remains concerned that, whereas the world came together in 2008–09 in a coordinated response to the global financial crisis, policy today is more inwardly focused and disparate, rather than coordinated and coherent. The world economy still needs a high level of cooperation and partnership in order to complete the recovery process. We still need joint activity to ensure faster growth.