In a joint statement the multilateral bodies called for decisive action at the G20 Summit to boost incomes and accelerate growth, saying the well being of billions depended on trade.<\/p>\n
\u201cThe good news is that when it comes to trade, we do not need to choose between inclusiveness and economic growth,\u201d the statement said.<\/p>\n
The organisations argued that incomes and living standards across the world have been improved by trade openness and that the recent global trend towards protectionism had hurt growth.<\/p>\n
But \u2018reinvigorating trade\u2019 must also go hand-in-hand with measures to share its gains and support workers who are put out of work, they said.<\/p>\n
\u201cWithout the right supporting polices, adjustment to structural changes can bring a human and economic downside that is often concentrated, sometimes harsh, and has too often become prolonged.\u201d<\/p>\n
The organisations recommend job search assistance, retraining, and vocational training, adaptable education systems and housing, credit and infrastructure policies as some measures to improve worker mobility.<\/p>\n
Trade reform is necessary for productivity and income growth in both advanced and developing countries, they said pressing for action.<\/p>\n
\u201cNow is the time to press ahead with trade reforms that can deliver greater prosperity for all.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The International Monetary Fund, the World Bank and the World Trade Organization, have urged G20 leaders to boost trade by lowering trade barriers and trade-destroying subsidies while developing policies to support workers who have lost their jobs. In a joint statement the multilateral bodies called for decisive action at the G20 Summit to boost incomes<\/p>\n","protected":false},"author":1,"featured_media":4017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[392],"class_list":{"0":"post-4016","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-world-bank-and-wto-urge-g20-leaders-to-act-on-trade"},"acf":[],"_links":{"self":[{"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/posts\/4016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/comments?post=4016"}],"version-history":[{"count":0,"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/posts\/4016\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bartabangla.com\/english\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/media?parent=4016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/categories?post=4016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bartabangla.com\/english\/wp-json\/wp\/v2\/tags?post=4016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}