Growth on a Global Scale - Is It Possible?

Photo by Joshua Rawson-Harris / Unsplash

Last week, leaders, professionals and experts gathered at the World Economic Forum's Growth Summit. The event, held in Geneva, saw many discuss the ways in which they believe the global community can grow and advance future opportunities.

In today's world, there are various challenges that we face, such as climate change, inequality, and a rapidly changing job market. It is essential to take action to tackle these challenges and create a better future for all. To achieve this, there are three critical areas that we must focus on: enabling resilient growth, developing human capital, and accelerating economic equity.

Enabling resilient growth means advancing inclusive and sustainable economic growth, trade, investment, productivity, manufacturing, global development, and equitable globalisation. It is crucial to support these areas as they drive economic progress and create opportunities for all. However, it is equally important to ensure that this growth is sustainable and inclusive, leaving no one behind. By promoting equitable globalisation, we can ensure that everyone benefits from economic progress, no matter where they are in the world.

Developing human capital is another key area that we must prioritise. This means investing in education, skills, and health to support job creation, living wages, job transitions, and an equitable future of work. We must ensure that everyone has access to education and training, allowing them to develop the skills needed to succeed in today's job market. By supporting job creation and living wages, we can create a more stable and prosperous future for all.

We must also accelerate economic equity by enabling an equitable green transition and advancing gender equality, health equity, care, diversity and inclusion, and racial and social justice. This means taking steps to ensure that everyone has access to clean energy and environmental protections. It also means promoting gender equality, ensuring that everyone has access to quality healthcare, and promoting diversity and inclusion. By advancing racial and social justice, we can ensure that everyone is treated fairly and has equal opportunities.

During the summit, one important subject that was discussed was the varying definitions of growth for individuals. As an illustration, for certain African nations, growth means the process of urbanisation, which is occurring at a faster pace in those regions than in any other part of the world, resulting in visible transformations. This transformation is expected to lead to 40% of the workforce residing in African cities within the next two decades. Urbanisation has a beneficial impact on Africa, with higher wages and better living standards being demonstrated in urban areas.

By focusing on enabling resilient growth, developing human capital, and accelerating economic equity, we can create a better future for all. These three areas are critical for promoting sustainable economic progress, creating opportunities for all, and ensuring that everyone has a chance to succeed. Let us work together to tackle these challenges and create a better world for future generations.

For more information on Tej Kohli as a philanthropist visit tejkohliruit.com and to read more of his views go to his Medium.

To read about Tej Kohli as an investor and technologist visit Kohli Ventures

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