Geneva, December 16 The World Economic Forum released a special edition of the 2020 Global Competitiveness Report on the 16th, saying that economies with a developed digital economy, sound social security and effective health systems have maintained stronger resilience in the COVID-19 epidemic.
The report shows that the deep economic recession caused by the COVID-19 epidemic is still continuing and profoundly affecting social and economic development.
Relatively speaking, some countries have more effectively responded to the challenges posed by the epidemic to economic development and people’s lives.
These countries are characterized by a developed digital economy and a sound social security system. The work has planned and integrated the application of health, fiscal and social policies and has experience in epidemic prevention and control.
The report also proposes four major ways to promote economic revitalization and transformation in the post-epidemic era, namely, improving the policy environment, focusing on improving public services, planning and managing public debt; optimizing human capital, including creating new jobs and implementing large-scale skills training; and reforming market mechanisms, involving upgrading the financial system.
Inclusiveness, reform of competition and anti-monopoly policies, etc.; improve the innovation ecology and encourage the public and private sectors to increase investment in research and development.
Sadia Zahidi, executive director of the World Economic Forum, said in the report: “In the context of uncertain times, this public health crisis and economic recession have forced economies to fundamentally rethink the way economic growth and rethink the relationship between economic development and human life and the ecology of the earth.
Policymakers can seize this important opportunity to create a new and efficient economy, while allowing more people to share prosperity and maintain environmental sustainability.
The report also said that considering this year’s special situation, the World Economic Forum suspended the release of the “Global Competitiveness Index” ranking, and the practice of benchmarking the competitiveness of economies will resume next year.
