"I Am Not Being Alarmist, I Am Simply Stating the Facts"

"Because of the actions taken by governments during and after that crisis, including, I should add, by aggressive steps by my administration, the global economy has now returned to healthy growth. But the credibility of the international system, the faith in experts in places like Washington or Brussels, all that had taken a blow.
"And a politics of fear and resentment and retrenchment began to appear, and that kind of politics is now on the move. It's on the move at a pace that would have seemed unimaginable just a few years ago."

The Guardian publishes a transcript of Barack Obama's speech in Johannesburg, South Africa.