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The era of the sovereign, independent nation state is over. This crisis revealed with blinding clarity the enormous risk of living in an integrated global economy with fragmented international governance. The rise of the G20 has been one of the most important developments in this respect, according to Angel Gurría.
Economic recovery appears to have come close to a halt in the major industrialised economies, with falling household and business confidence affecting both world trade and employment, according to Angel Gurría. Growth remains strong in most emerging economies, albeit at a more moderate pace.
Policies that promote job creation, better job opportunities and well-functioning social safety nets are crucial for helping the many who are still struggling to find jobs. These policies are not just spending items in a strained public budget. They are a vital social investment for the future, to help move our economies onto a path of sustainable economic growth and well-being.
Openness is one of the key values that guide the OECD vision for a stronger, cleaner, fairer world. This is why the OECD welcomes the launch of the Open Government Partnership today and the efforts led by Presidents Obama and Rousseff to promote government transparency, fight corruption, empower citizens and maximise the potential of new technologies to strengthen accountability and foster participation in public affairs.
The challenges of tackling high and persistent unemployment, especially for the young people, improving job opportunities and ensuring adequate social safety nets should be at the top of the political agenda, said OECD Secretary-General Angel Gurría.
Drawing on facts and real-life experience, the OECD strives to understand what drives economic, social and environmental change. We measure, compile and analyse data to provide evidence for policy making and to predict future trends. They are a means to inform decisions and lie at the core of rigorous, evidence-based policy making.
We must reboot our economies with a more intelligent type of growth, driven by new start-ups, innovative small and medium enterprises. We need new ideas, new business models, greener technologies but we also need new skills. Thus, innovation go hand in hand with education and knowledge.
Greece is in deep crisis after years of fiscal laxity and weak structural reforms. To return to sustainable growth, the fiscal consolidation and product and labour market reforms underway should continue, be closely monitored, with the burden of the adjustment fairly shared, according to the OECD Secretary-General.
Greece needs to look beyond its short-term difficulties and start to prepare for a brighter future. It is at the crossroads, but can succeed, provided that it undertakes and implements relentlessly the right reforms. The reform of education is in fact the key to Greece’s future prosperity.
This report shows how aid for trade is becoming a growing priority for an increasing number of developing countries and donors; And how aid for trade is being connected to the broader development agenda, with strategies and priorities increasingly focusing on competitiveness and trade-led economic growth, said OECD Secretary-General.