Today, just as faith in deregulated markets has evaporated in the nightmare on Wall Street, so too is the long reign of market fundamentalism (or neoliberalism) ending in the development arena. And, a debate over the best route to development has returned.
The global rise in food prices is not only a consequence of using food crops to produce biofuels, but of the "free trade" policies promoted by international financial institutions. Now peasant organisations are leading the opposition to a capitalist industrial agriculture.
The language contained in agreements being negotiated by the EU through the WTO with their southern counterparts often deliberately diguises real political goals, obscuring the negative economic implications for those countries of the neoliberal agenda.
South Africa is playing a significant role in supporting and extending the power of the World Trade Organisation, a new system of global government. This not only entails South Africa surrendering its own policy-making rights and space, but also means bargaining away the South African peoples’ democratic rights to determine their country’s internal economic, environmental, social and cultural policies.
Alternatives to neo-liberal globalisation are needed that not only change people-to-people and South-South relations and situations, but also South-North relations and inter-actions to the benefit of all of humanity and our common planetary home.
Amongst many other analyses and debates, the more extensive awareness of the active role of the state and of states in the purportedly highly successful 'market economies' in East Asia and South East Asia is bringing discussion of the role of state back into quite mainstream development discourse.