South African President Cyril Ramaphosa addressed the United Nations General Assembly, criticizing the current global economic system and warning that trade is increasingly being used as a geopolitical weapon. He expressed concern about the destabilising effects of geopolitical shocks and volatile trade policies on the world economy, noting that trade is being wielded against various countries.
Ramaphosa specifically highlighted the long‑standing U.S. embargo on Cuba, describing it as a damaging and unjust policy that continues to hinder the Cuban economy. He urged that the embargo be lifted as soon as possible. The president also stressed the need to strengthen the link between trade and development, especially for nations in the Global South, and condemned unilateral trade practices. He called for fair, transparent trade rules that enable developing countries to compete on an equal footing.
In addition, Ramaphosa highlighted the critical need for better access to capital for Africa and the broader Global South to achieve their development goals. He argued that ensuring developing nations have adequate financing is essential for sustainable development.
The global economic system has faced numerous challenges in recent years, including rising protectionism and trade tensions. The use of trade as a geopolitical tool has become increasingly evident, with several countries imposing tariffs and sanctions on others. This situation raises concerns for developing nations, which often rely heavily on international trade to drive their economies.
Ramaphosa’s call for fair and transparent trade rules, along with improved access to capital, resonates with many countries in the Global South, which have long argued that the current system is stacked against them and hampers competition with more developed economies. As the international community navigates the complexities of trade and development, his remarks serve as a reminder of the need for a more equitable and sustainable global economic order.
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