Values Versus Interests in the G-20’s Global Economic Governance Effort: A South African Perspective

The document examines South Africa's role in global economic governance, analyzing the tension between liberal democratic values and domestic political pressures. It evaluates South Africa's alignment with the KAS guidelines, concluding that while current policies are generally compatible, future trajectories are uncertain due to internal factional battles within the ruling tripartite alliance and a potential shift toward state capitalism.

• South Africa's commitment to liberal democratic values is contested internally. While the 1996 constitution is a model for social inclusion, some within the ruling tripartite alliance view it as a compromise and advocate for a 'second transition' to prioritize majority interests and racial transformation over individual rights.
• South Africa's approach to global economic governance is fragmented across different policy areas. In finance and macroeconomics, the Treasury and South African Reserve Bank follow a liberal route, whereas the Department of Trade and Industry advocates for active industrial policies and trade protection to support domestic manufacturing.
• South Africa leverages its status as a 'political gateway' to Africa to maintain leadership in multilateral forums, though it often takes positions contrary to Western designs due to historical distrust and a desire to maintain distance from Western institutions to preserve its leadership in the developing world.
• The author concludes that South Africa's current economic policy is generally aligned with the KAS guidelines, but future stability is uncertain. There is a risk that 'state capitalism' could gain momentum, potentially leading to increased opposition to open international markets.
• Specific contradictions exist between South African practice and KAS principles, including the use of Black Economic Empowerment (BEE) policies which redistribute ownership, and the government's role in the collapse of the SADC Tribunal, which suggests a flexible interpretation of the rule of law.
• South Africa's financial system is highly developed and stable, with the South African Reserve Bank's inflation targeting regime generally resonating with KAS principles of macroeconomic stability, despite domestic pressure to weaken the exchange rate to favor exports.

APA

Draper, P. (2012). Values Versus Interests in the G-20’s Global Economic Governance Effort: A South African Perspective. South African Institute of International Affairs. https://saiia.org.za/wp-content/uploads/2012/12/Occasional-Paper-129.pdf

Chicago

Draper, Peter. Values Versus Interests in the G-20’s Global Economic Governance Effort: A South African Perspective. South African Institute of International Affairs, 2012. https://saiia.org.za/wp-content/uploads/2012/12/Occasional-Paper-129.pdf.

Wikipedia

{{cite report |last1=Draper |first1=Peter |title=Values Versus Interests in the G-20’s Global Economic Governance Effort: A South African Perspective |publisher=South African Institute of International Affairs |date=December 2012 |url=https://saiia.org.za/wp-content/uploads/2012/12/Occasional-Paper-129.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{draper2012values, author = {Draper, Peter}, title = {{Values Versus Interests in the G-20’s Global Economic Governance Effort: A South African Perspective}}, institution = {South African Institute of International Affairs}, year = {2012}, month = dec, url = {https://saiia.org.za/wp-content/uploads/2012/12/Occasional-Paper-129.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }