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Recovering Better: Economic and Social Challenges and Opportunities a Compilation of the High-Level Advisory Board ECONOMIC AND SOCIAL CHALLENGES AND OPPORTUNITIES A Compilation of the United Nations High-level Advisory Board on Economic and Social Affairs COPYRIGHT: Recovering better: economic and social challenges and opportunities A compilation of the High-level Advisory Board on Economic and Social Affairs Published by the United Nations, Department of Economic and Social Affairs New York, New York 10017, United States of America Copyright © 2020 United Nations All rights reserved This publication in its entirety may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system now known or to be invented, without written permission from the publisher. All queries on rights and licences, Including subsidiary rights, should be addressed to: [email protected] Designed and produced by: Office of the Under-Secretary-General, Department of Economic and Social Affairs, United Nations, New York List of Acronyms AfCFTA African Continental Free Trade Area ICRICT Independent Commission for the Reform of International AfDB African Development Bank Taxation AI artificial intelligence ICT information and communications technology AREAER Annual Report on Exchange Arrangements and Exchange ICUs ICU - intensive care unit Restrictions ID identity/identification ASEAN Association of Southeast Asian Nations IFFs Illicit Financial Flows AU African Union ILO International Labour Organization BADEHOG Banco de Datos de Encuestas de Hogares / Household Survey IMF International Monetary Fund Data Bank IPBES Intergovernmental Science Policy Platform on Biodiversity BEPS Base Erosion and Profit Shifting and Ecosystem Services BRICS Brazil Russia India China South Africa IPCC Intergovernmental Panel on Climate Change CAD comparative-advantage-defying IRP International Resource Panel CAF comparative-advantage-following IT information technology CBD Convention on Biological Diversity LDCs Least Developed Countries CDP Committee for Development Policy MDGs Millennium Development Goals CEO Chief Executive Officer MENA+AP Middle East, North Africa, Afghanistan, and Pakistan CEVES Center for Advanced Economic Studies MERCOSUR Southern Common Market CO2 carbon dioxide MF material footprint indicator COVID-19 Coronavirus Disease 2019 MICs Middle-Income Countries CRIC Committee for the Review of the Implementation of the MIT Massachusetts Institute of Technology Convention to Combat Desertification NBER National Bureau of Economic Research DMC Domestic material consumption NEPAD New Partnership for Africa's Development DNA deoxyribonucleic acid ODA Official Development Assistance DRM Domestic resources mobilization OECDv Organisation for Economic Co-operation and Development DSA Debt sustainability analysis PPBES Planning-Programming-Budgeting-Evaluation Systems ECLAC Economic Commission for Latin America and the Caribbean R/GVCs Regional/Global Value Chains EIB European Investment Bank RER Real exchange rate EU European Union SDGs Sustainable Development Goals FCL Flexible Credit Line SDRs Special Drawing Rights FDI Foreign direct investment SMEs small and medium-sized enterprises FLAR Fondo Latinoamericano de Reservas/ Latin American Reserve SSA Sub-Saharan Africa Fund UN DESA United Nations Department of Economic and Social Affairs FSDR Financing for Sustainable Development Report UNCTAD United Nations Conference on Trade and Development G20 Group of Twenty UNDP United Nations Development Programme GATT General Agreement on Tariffs and Trade UNEP United Nations Environment Programme GDP Gross Domestic Product UNIDO United Nations Industrial Development Organization GEO-6 Sixth edition of the Global Environment Outlook UNU-WIDER United Nations University-World Institute for Development GHG Greenhouse Gas Economics Research GNI Gross National Income US United States GSDR Global Sustainable Development Report VLEs Village level entrepreneurs GVCs Global value chains WTO World Trade Organization HLAB High-level Advisory Board on Economic and Social Affairs The United Nations High-level Advisory Board (HLAB) on Economic and Social Affairs was established in June 2018 to help strengthen United Nations Department of Economic and Social Affairs (UN DESA) in the context of the United Nations development system reform and as a key part of efforts to enhance theUnited Nations’s support to Member States in implementing the 2030 Agenda for Sustainable Development. The Board also, through its twice annual meetings, provided advice to the United Nations on broad economic and social issues, including near term prospects and risks of the world economy, frontier technologies, inequality, migration, issues associated with countries in special situation as well as the implications of these issues for multilateralism and the implementation of the 2030 Agenda for Sustainable Development Over the course of the last two year, the HLAB has deliberated on many contemporary and cross-cutting issues and challenges. The interventions and insights of the Board have greatly inspired the United Nations to break new grounds in policy research. This volume is envisaged as the legacy of the HLAB to advancing the sustainable development agenda over the course of its first two-year term. It is scheduled to be launched in late July 2020 after the 2020 High-level Political Forum on Sustainable Development. CONTENTS INTRODUCTION 4 CHAPTER IV 70 Recovering better: economic and social challenges and opportunities Sustainable financing for (an owned) sustainable development: A compilation of the United Nations High-level Advisory Board on Economic and Social Affairs time for Africa to give the driver’s seat to domestic resource mobilization Liu Zhenmin Cristina Duarte CHAPTER I 14 CHAPTER V 102 Uncertainties surrounding the global economy and their implications for the global Decoupling: a key to achieving the Sustainable Development Goals development agenda Izabella Teixeira, Yi-Ann Chen, Victor Valido José Antonio Ocampo CHAPTER II 34 CHAPTER VI 118 Digital challenges for developing countries Production structures for sustainable development: shaping them from the bottom up Jayati Ghosh Kori Udovički CHAPTER III 50 CHAPTER VII 140 Inclusive catch-up: the new structural economics approach Equality, democracy and sustainable development Justin Yifu Lin, Peilin Liu Alicia Bárcena BIOGRAPHIES 160 Biographies of United Nations High-level Advisory Board (HLAB) on Economic and Social Affairs Membership 2 CONTENTS INTRODUCTION 4 CHAPTER IV 70 Recovering better: economic and social challenges and opportunities Sustainable financing for (an owned) sustainable development: A compilation of the United Nations High-level Advisory Board on Economic and Social Affairs time for Africa to give the driver’s seat to domestic resource mobilization Liu Zhenmin Cristina Duarte CHAPTER I 14 CHAPTER V 102 Uncertainties surrounding the global economy and their implications for the global Decoupling: a key to achieving the Sustainable Development Goals development agenda Izabella Teixeira, Yi-Ann Chen, Victor Valido José Antonio Ocampo CHAPTER II 34 CHAPTER VI 118 Digital challenges for developing countries Production structures for sustainable development: shaping them from the bottom up Jayati Ghosh Kori Udovički CHAPTER III 50 CHAPTER VII 140 Inclusive catch-up: the new structural economics approach Equality, democracy and sustainable development Justin Yifu Lin, Peilin Liu Alicia Bárcena BIOGRAPHIES 160 Biographies of United Nations High-level Advisory Board (HLAB) on Economic and Social Affairs Membership 3 INTRODUCTION Second High-level Advisory Board (HLAB) Meeting, Shenzhen, China, 16-18 October 2018. Photo credit: Mr. HE Long, Shenzhen Special Zone Daily Recovering better: An overview of the compilation of the High-level Advisory Board on Economic and Social Affairs by Liu Zhenmin 4 INTRODUCTION Second High-level Advisory Board (HLAB) Meeting, Shenzhen, China, 16-18 October 2018. Photo credit: Mr. HE Long, Shenzhen Special Zone Daily Recovering better: An overview of the compilation of the High-level Advisory Board on Economic and Social Affairs by Liu Zhenmin 5 Recovering better: economic and social challenges and opportunities A compilation of the High-level Advisory Board on Economic and Social Affairs Liu Zhenmin Mr. Liu Zhenmin has been the United Nations Under-Secretary-General for Economic and Social Affairs since 2017. Prior to his appointment, Mr. Liu was Vice-Minister for Foreign Affairs of China since 2013. Among his various diplomatic assignments, he served as Ambassador and Permanent Representative, Permanent Mission of the People’s Republic of China to the United Nations Office at Geneva and other International Organizations in Switzerland (2011-2013). INTRODUCTION advice to the United Nations on broad economic and social issues, including near-term prospects and risks for the The United Nations High-level Advisory Board (HLAB) on world economy, frontier technologies, inequality, migration, Economic and Social Affairs was established in June 2018 issues associated with countries in special situations, as well to help strengthen the United Nations Department of as the implications of these issues for multilateralism and Economic and Social Affairs (UN DESA) in the context of the implementation of the 2030 Agenda for Sustainable United Nations development system reform, and as a key Development. part of efforts to enhance support to Member States of the United Nations in implementing the 2030 Agenda for Over the
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