There are winners and losers born out of every economic phenomenon, sometimes thriving on the misfortune of others and sometimes feeling the impact of developments taking place elsewhere. For a few months now, the slowdown witnessed in China’s economic growth and its move to devalue its currency have left many running for cover. In addition, there has been a fall in crude oil prices, which may have benefited oil-importing countries, but it has also left many oil-driven economies facing a dearth of revenue and forced to curtail spending. Some economies have plunged into recession and the hope that the Organisation of the Petroleum Exporting Countries (OPEC) would come to the rescue by controlling production is conditioned on other actors outside the body following suit — a classic prisoner’s dilemma.
Strategic Perspectives Through Research and Dialogue
