World Economic Forum report calls for proactive economic systems
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There was no ranking in the
World Economic Forum’s Global Competitiveness Report 2020, but officials have warned leaders to be more proactive in reviving, transforming and redesigning their economic systems to enhance human development while ensuring environment sustainability.
The special 2020 edition report titled
How Countries are Performing on the Road to Recovery, urged countries to take proactive steps to implement transformative policies, “bold investments and new ventures” to ensure economic recovery.
“Such an approach requires courageous vision and a nuanced balance between the short and long-term . . . This unusual moment calls for innovative and much-needed shifts in policy,” the report said, while pointing out that it will require “building blocks of a transformation towards new economic systems that combine productivity, people and planet targets”.
BUSINESS COMPETITIVENESS Star Business Report Star Business Report
Inefficient government bureaucracy has become the top roadblock for the improvement of the country s business competitiveness, according to the Bangladesh Business Environment Study released yesterday.
The Centre for Policy Dialogue (CPD) carried out the study as part of the executive opinion survey for the preparation of World Economic Forum s Global Competitiveness Report.
The CPD conducted the survey and released the Bangladesh version of the Global Competitiveness Report 2020 on behalf of the WEF.
The weakness in bureaucracy has turned into a major problem for the first time to improve the competitiveness, sidestepping corruption and infrastructure.
· Special edition of the World Economic Forum’s
Global Competitiveness Report examines how the recovery from COVID-19 crisis can build productive, sustainable and inclusive economic systems
· Countries with advanced digital economies, strong social safety nets and robust healthcare systems have managed the impact of the pandemic more effectively
· Report measures which countries are best prepared for recovery and future economic transformation
· Country rankings have been suspended due to the extraordinary COVID-19 response measures by governments
· Read the full report, infographics and more here
Geneva, Switzerland, 16 December 2020 – Almost one year after the onset of the COVID-19 crisis, the deep economic recession it has triggered continues to have profound economic and social consequences. While no nation has emerged unscathed, this year’s
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The Regional Comprehensive Economic Partnership (RCEP), a mega free trade agreement (FTA) was signed recently by 15 nations, namely the 10 ASEAN states, Japan, South Korea, China, Australia, and New Zealand. India had decided to walk out of trade pact in November 2019, when Prime Minister Narendra Modi stated: “Whenever I try and gauge India’s interest in light of her joining RCEP, I do not get an answer in the affirmative; neither Gandhiji’s policy of self-reliance nor my wisdom allows me to join RCEP.”
India’s decision to exit the mega trade deal was taken after negotiating the deal for seven years in the backdrop of several unresolved issues concerning market access for China, non-tariff barriers faced by Indian exporters, services trade, and rules of origin criteria, among other issues. While India was often tagged as the “troublemaker” in the deal negotiations, Indian policymakers stood their ground firmly when it came to the interests of domestic