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Strengthening Industrial Competitivenessto Promote Job Creation
Ladies and gentlemen, it's a pleasure to join you this morning. Let me echo my colleague, Irina Astrakhan, in welcoming you-on behalf of the World Bank-to this important and timely conference.
The topic we'll examine today-improving competitiveness, as a way to promote stronger job creation-could scarcely be more critical. That's true for the global economy in general, and for South Africa in particular.
In both developed and developing nations, the continuing impact of the prolonged economic downturn has suppressed growth rates, exerted downward pressure on incomes, and caused chronically high unemployment.
That economic pressure has re-opened old, dangerous fault lines in many national and regional economies.