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”.