• EDITORIAL POLICY
  • ABOUT US
PML Daily
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
Home NEWS

Changes in post-pandemic economy require enhanced global cooperation – WEF founder

XINHUA NEWS AGENCY | PML Daily Content PartnerbyXINHUA NEWS AGENCY | PML Daily Content Partner
June 6, 2020
17 0
23
SHARES
241
VIEWS
FacebookWhatsAppTwitter
Klaus Schwab, the founder and executive chairman of the World Economic Forum (PHOTO/File).

GENEVA – The COVID-19 crisis has posed economic challenges and structural changes, all requiring multilateral and multi-stakeholder solutions, said Klaus Schwab, founder and executive chairman of the World Economic Forum.

“This was not just a cyclical crisis; it was a systemic crisis,” said Schwab in a recent interview with Xinhua.

The lasting impacts of the pandemic on global economy, he said, involve short term consequences like job losses, and structural influence as well as series of new risks.

Schwab noted that main industrialized countries have adopted positive fiscal measures to assuage pressures of liquidities, while the currency devaluation has been seen in some developing countries in South America and Africa.

“We have to make all efforts to ensure that the gap of the advanced economies and the emerging economies is not becoming bigger as a consequence of the crisis,” he said.

Small and medium-sized enterprises (SMEs) have been hit hardest by the pandemic, due to their high dependence on supply chains and less liquidities, compared with large companies, noted Schwab, adding that SMEs require “special care” during the economic recovery.

Some countries have worked to avoid short-term financial risks, which resulted in a higher debt burden that the next generation has to carry, he added, noting that those countries should speed up economic recovery and reduce the debt burden as fast as possible.

Indicating the silver lining of the coronavirus crisis in the digital economy, he said that “the coronavirus crisis will exercise pressures on companies to digitalize more, to robotize more, to use the internet of things even more.”

People will pay more attention to health, while digital learning and lifelong learning are booming in the educational field, Schwab added.

In Schwab’s view, the challenges posed by the “global virus” require the engagement of politicians, business community and particularly the young generation.

“All those risks can only be reduced if we strengthen global cooperation,” he said.

“The world order in the post pandemic era has to be shaped by all countries. We need not only a multilateral approach, we need a multi-stakeholder approach — what the Forum stands for,” he concluded.

Share this:

  • Twitter
  • Facebook

Related

Leave a comment

Tags: founder and executive chairman of the World Economic ForumKlaus Schwabtop

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe


About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us



  • EDITORIAL POLICY
  • ABOUT US

© 2023

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2023

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist