Building a New Future: Transformative Recovery with Equality and Sustainability
The COVID-19 pandemic is impacting a global economy that is already traversing three structural crises: a crisis of instability and low output growth, a crisis of growing inequality and the
environmental crisis that threatens to destroy the natural systems that sustain life on the planet. From the perspective of the Latin American and Caribbean periphery, three gaps (the social gap, the environmental gap and the sustainability gap) reflect the three crises of the international system: weak growth in a global economy that reproduces technological and productive asymmetries, forcing deficit-running economies to adjust through lower growth rates; unequal economic structures that cannot generate high-productivity formal jobs and allow the concentration of political and economic power; and the destruction of the environment in economies that depend on natural-resource exports to sustain growth and imitative consumption patterns. This document argues that the right mix of social and environmental policies, together with economic, technological and industrial policies, can relaunch development in Latin America and the Caribbean, with redistribution as a crucial component.
UN Symbol LC/SES.38/3-P/Rev.1
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