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Re-igniting growth and putting people back to work will be essential to restore citizens’ confidence with positive spill-over effects on other policy measures and their effectiveness, said OECD Secretary-General.
The production and dissemination of reliable statistics have become essential for public administration and public policy. Statistics is not an aim in itself, but a very important tool to improve our understanding of an increasingly complex, interdependent and fast-evolving world, said OECD Secretary-General.
Strong international cooperation on testing, exploring and refining measurement tools on green growth is essential to support implementation and assessment of policies in both developed and developing countries, said OECD Secretary-General.
Economic growth has played a major role in lifting people out of poverty. However, there is increasing evidence that many of these people did not move up to the middle classes but into an intermediate state of “vulnerability”. Poverty continues to affect millions of people around the world, said OECD Secretary-General.
In a large majority of OECD countries, wage gaps widened and household income inequality increased during the three decades prior to the crisis. Inequalities have also been growing in many emerging economies and developing countries, despite their fast growth over the last years, said OECD Secretary-General.
Our economic growth models have not equitably distribute benefits. Inequalities were brewing under the surface prior to 2007 and increased almost everywhere even during periods of sustained economic growth. We need to reverse this trend, said OECD Secretary-General.
The fiscal and taxation reforms will be more than ever necessary in China to ensure that growth becomes more inclusive. So far, China has had a major success in reducing the poverty. But additional tax reforms will be needed to reduce further inequality in disposable income and across regions, as well as to help reduce the rural-urban divide.
The OECD and China are building a new partnership based on growing collaboration in key policy areas: from social inclusion to urbanisation; from education to green growth; from energy efficiency to corporate governance and taxes, said OECD Secretary-General.
China enjoys a more stable and balanced growth and is now definitely on course to become the world’s largest economy around 2016. But major reforms are still needed to ensure a fourth decade of rapidly converging living standards and a greener economy, said OECD Secretary-General.
In a highly integrated and interdependent global economy, trade liberalisation is essential to foster competition, innovation and development. The rising importance of Global Value Chains is clear proof of how many countries can benefit from the creation, production and export of a given product, said OECD Secretary-General.