Africa

In many Western democracies, this is a year of revolt against elites. The success of the Brexit campaign in Britain, Donald Trump’s unexpected capture of the Republican Party in the United States, and populist parties’ success in Germany and elsewhere strike many as heralding the end of an era. As Financial Times columnist Philip Stephens put it, “the present global order – the liberal rules-based system established in 1945 and expanded after the end of the Cold War – is under unprecedented strain. Globalization is in retreat.”

In fact, it may be premature to draw such broad conclusions.

Some economists attribute the current surge of populism to the “hyper-globalization” of the 1990s, with liberalization of international financial flows and the creation of the World Trade Organization – and particularly China’s WTO accession in 2001 – receiving the most attention. According to one study, Chinese imports eliminated nearly one million US manufacturing jobs from 1999 to 2011; including suppliers and related industries brings the losses to 2.4 million.

The big international oil companies are going through a crisis little noticed by analysts and the markets. It is a crisis of results and of vision.

Simply put, the majors — companies like Exxon Mobil, Royal Dutch Shell and BP — aren’t growing. They have discovered relatively little oil in recent years despite increasing investment. They also have lost their exclusive lock on the skills that made them indispensable to oil-producing countries.

In this new lead article, Prof. Calestous Juma, Harvard University and Prof. Yee-Cheong Lee, UNESCO, reflect on the progress made since the UN Millennium Project's Task Force report on science, technology and innovation (ST&I) was published. In 2005, the Task Force released the report Innovation: applying knowledge in development. It outlined a number of ways in which ST&I could be used to realize the UN Millennium Development Goals (MDGs). The authors claim that the report has played a key catalytic role in raising global awareness of the importance of ST&I in development.

"There are many lessons that Africa can learn from Brazil. The key is that Brazil has had a long record of creating new institutions to address major national challenges. It stands out as a leader in aviation because of having created an aerospace conglomerate, EMBRAER, whose annual revenue stands at about US$5.7 billion. Brazil offers key lessons on how to make Africa's rapidly expanding aerospace industry safer and more reliable."

In the modern global economy, nations do not compete; it is specialized regions that compete, according to Calestous Juma, faculty chair of the Innovation for Economic Development executive program. To help countries strengthen their regional innovation systems, the Belfer Center will join Harvard Kennedy School’s Executive Education in sponsoring a high level executive program beginning May 28.