Around the world, new job opportunities offer the promise of prosperity, but hundreds of millions of people are locked out because they lack the necessary education and skills. Unless current trends are reversed, this opportunity gap will deepen, creating even greater income disparities and stifling global economic recovery.
SEATTLE – We stand in the midst of a global economic tragedy. Around the world, new job opportunities are being created that offer the promise of prosperity. Yet hundreds of millions of people find themselves locked out of these opportunities because they lack the necessary education and skills.
Unless current trends are reversed, this opportunity gap will deepen, creating even greater income disparities and stifling economic recovery worldwide. To avoid this outcome, it is critical that business and governments around the world agree now on a strategy for improving educational opportunities, training, and global mobility for the next generation of workers.
It is estimated that 600 million jobs worldwide will need to be created over the next decade to make up for jobs lost in the recent economic crisis. Many of these new jobs will come from sectors in which advances in science, engineering, and technology continue to drive innovation and growth.
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The long-standing economic consensus that interest rates would remain low indefinitely, making debt cost-free, is no longer tenable. Even if inflation declines, soaring debt levels, deglobalization, and populist pressures will keep rates higher for the next decade than they were in the decade following the 2008 financial crisis.
thinks that policymakers and economists must reassess their beliefs in light of current market realities.
Since the 1990s, Western companies have invested a fortune in the Chinese economy, and tens of thousands of Chinese students have studied in US and European universities or worked in Western companies. None of this made China more democratic, and now it is heading toward an economic showdown with the US.
argue that the strategy of economic engagement has failed to mitigate the Chinese regime’s behavior.
SEATTLE – We stand in the midst of a global economic tragedy. Around the world, new job opportunities are being created that offer the promise of prosperity. Yet hundreds of millions of people find themselves locked out of these opportunities because they lack the necessary education and skills.
Unless current trends are reversed, this opportunity gap will deepen, creating even greater income disparities and stifling economic recovery worldwide. To avoid this outcome, it is critical that business and governments around the world agree now on a strategy for improving educational opportunities, training, and global mobility for the next generation of workers.
It is estimated that 600 million jobs worldwide will need to be created over the next decade to make up for jobs lost in the recent economic crisis. Many of these new jobs will come from sectors in which advances in science, engineering, and technology continue to drive innovation and growth.
To continue reading, register now.
Subscribe now for unlimited access to everything PS has to offer.
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