Politicians in Europe, the US and the UK have blamed steel industry woes on artificially cheap imports.
Rather than lifting investment, Australian businesses have chosen to return cash to shareholders in the form of record dividends and share buybacks.
South Africa's economic challenges of 2016 are largely a reflection of its inability to change in the light of global shocks.
OPEC has been declared dead in recent months as the group of oil-exporters has been unable to agree on a plan to stabilize the market. But was it really ever alive in the first place?
The downturn in the commodity boom will not automatically lead to diversification of Africa's economies. This can only be achieved through a focus on creating learning economies driven by innovation.