Getting Real…With the Economy

The world is finally, albeit slowly, waking up to the reality….the economic reality after the financial crisis. So, it seems…

In his report, Accounting for Success, UN Secretary General Ban Ki-Moon says: 'A recovery is not meaningful if people only learn about it in the newspaper.' It should be felt in lives and livelihoods of its people.

A real recovery must reach the real economy.

The report comes as the leaders of the world’s largest economies are meeting in Canada, for the MY SUMMIT 2010, the official international youth summit, to be held alongside the G8 Summit and the G20 Summit. And, as the Secretary General puts it: ‘many questions on the summit table echo concerns around kitchen tables elsewhere.’

[Now, if you ask me why I am so concerned about global economic recovery – It’s not just this kitchen table concern….of course it is there, as it is for you. We all have felt the heat….

I am concerned a little more. It’s a very personal interest. Or, may be a professional interest…I report global banking/economy and financial news as part of my freelance job. Industry bad news is good news for reporters; but not for long!

Okay, even more, world issues, socio-economic and political issues, interest me….Has always been my interest…it is for that reason, I started this blog.]

So, coming back to the issue of real recovery in real economies:

Ban-Ki Moon suggests very unassuming measures, defining the frontiers of accountability to people in practical terms, the need for increased accountability being the buzz word among national leaders. The measures include:

- focus on primary education
- focus on human development
- delivering quality jobs, particularly investments in green jobs
- be accountable to women and children, being often the hardest hit victims of the economy (may be arguable in the present day scenario….at least in the so called “developed” economies…still, notably true to a great extent)
- guaranteeing food security
- helping farmers to increase productivity and access to markets
- investing in health

All oft-repeated words to ensure sustainable development and growth that ensues such summits…some are met and some are not….but it all invariably recurs in all development summit agenda.

BUT, this time over, given the reality, as Moon himself acknowledges – that global economic recovery depends on growth in developing countries, unlike never before,

Will it all end up a lip service, having emerged from a storm?

Will the developing nations show their potential….leading to a shared economic prosperity?

A great deal seems dependent on us.

Our own accountability

As nations

&

As individuals

*********

News Courtsey: Accounting for Success, Ban-Ki Moon- The Hindu/26-06-2010
Photo courtesy: as per original copyright at:
http://www.globalvision.ca/programs/my-summit-2010/