香港六合彩

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The G7 Panel on Economic Resilience has today (13 October 2021) published its final report titled 鈥榬鈥�. Proposals set out in the 鈥楥ornwall Consensus' aim to provide an updated approach to the landmark Washington Consensus to reflect the opportunities and challenges of the mid 21st century, covering global supply chains, vaccine distribution, access to critical minerals, cyber threats, digital tax, crypto-assets and the transition to green growth. It also examines the broader underlying issues that can erode the stability of the global economy.听

The Panel consists of eight authoritative experts appointed by G7 Leaders, including 香港六合彩 IIPP's Founding Director, Professor Mariana Mazzucato. The panel is听chaired by the Prime Minister鈥檚 G7 Envoy for Economic Resilience, Lord Sedwill, who presented the Panel鈥檚 initial set of recommendations to G7 Leaders at the Summit in Cornwall in June.听

The report presents a roadmap for the 鈥楥ornwall Consensus鈥� which sets out seven priorities for public-private investment, global standards and better governance including on health and climate change, digital governance and critical supply chains. The recommendations in the report鈥檚 鈥楥ornwall Consensus鈥� focus on a multidisciplinary approach beyond traditional economic policy levers, for consideration for G7 economies and beyond. The report aims to inform discussions at the upcoming G20 Leaders Summit and COP26 Climate Change Conference where Professor Mariana听Mazzucato will be speaking with leaders representing past, present and future COP conferences about progress to-date and what needs to change.听

香港六合彩 Professor and Founding Director of IIPP, Mariana Mazzucato, said:听

鈥�The Cornwall Consensus听requires a new deal: a revived social contract between public and private sectors鈥攖o proactively create a听resilient, sustainable and equitable economy.鈥�听

Lord Sedwill, Chair of the G7 Economic Resilience Panel said:听

"Globalisation has seen the greatest increase in prosperity and reduction in poverty in human history. But the 4th industrial revolution, the rise of China and environmental, economic and geo-political events have outpaced global economic governance. Economic resilience is delivered by diversification, co-dependence and public-private partnerships within well-governed, open and integrated global markets. The 鈥淐ornwall Consensus鈥� reflects that insight and recommends investment, standards and inclusive governance to meet the challenges and opportunities of the mid 21st century."听

Panel member Carolyn Wilkins, External member of the Bank of England鈥檚 Financial Policy Committee, Executive Board Member of Intact Financial Corporation and former Senior Deputy Governor of the Bank of Canada, said:听

鈥淚t鈥檚 time for the G7 to come together to secure the future economic and social well-being of our citizens. Success depends on forging a new consensus that recognizes the power of solidarity, shared social values, and private-public partnership.鈥澨�

Panel Member Thomas Wieser, Non-Resident Fellow, Bruegel and Former President of the Euro Working Group and the European Financial Committee, said:

"The European Union has weathered the pandemic comparatively well, but it has been a wake up call: internal and external disruptions to established ways of living, trading, travelling and producing have shown the fragility of national and global systems. The recommendations of our G7 Panel on Economic Resilience provide a clear road map towards a new socially and ecologically responsible way of global cooperation and governance of open societies."听

Panel member Dr. Felicia Wong, President and CEO of the Roosevelt Institute, said:

"The global community must pivot from the failed Washington Consensus鈥攁usterity, trade liberalization as an end unto itself, and decades of corporate tax avoidance鈥攖oward something new: embracing investment, standards, and real governance to solve the collective global challenges we face, from climate change to public health crises. The trust of our citizens and the very legitimacy of our governments depend on the global economic system meeting our collective needs." 听

Panel member Professor Thomas Philippon, Economist and Professor of Finance at New York University鈥檚 Stern School of Business; Economic Adviser to Emmanuel Macron, said:听

"The free-market, pro-growth ideas that constituted the 鈥淲ashington consensus鈥� contained much wisdom, but the challenges ahead of us 鈥� from climate change to global health 鈥� require a set of new principles to guide policy makers and foster the common good. The 鈥淐ornwall consensus鈥� is our contribution to this ongoing effort." 听

Panel member Dr Stormy-Annika Mildner, Executive Director of the Aspen Institute in Berlin, Adjunct Lecturer Hertie School, and former Head of Department for External Economic Policy at the Federation of German Industries, said:

"Today鈥檚 crises are frequent, multicausal, and severe. Whether they are systemic or sudden - the approaches we are taking towards them now no longer suffice. We need the Cornwall Consensus to guide us towards a more sustainable and inclusive path of governance. The world as we know it has changed significantly over the past years 鈥� it is time our approach towards global economic governance does, too!"听

The seven pillars of the Cornwall Consensus are: Global Health; Climate and Environment; Digital Governance; The Global Trading System; Investment-Focused Recovery; Labour Standards and Participation; and Supply Chains & Critical Market Fragilities.听

More information:

• The full report can be found
• Full membership of the panel and an overview of its work is available
• The panel commissioned a report from the OECD in March 2021 to inform its work, which is available