Policy Papers

Joint Responsibility Shared Rewards: The Managing Director’s Global Policy Agenda

Publication Date:

April 11, 2019

Electronic Access:

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Summary:

International cooperation, economic and financial integration, and technological progress have delivered enormous benefits across the globe during the past decades. Yet, in many countries, these benefits have not been shared adequately to prevent eroding trust in institutions and weakening support for the global system that has made these gains possible. 

This rising disengagement comes at a time when the world is facing challenges from rapid technological advancements, uncertainty about the future of work, demographic shifts, environmental degradation, and climate change. These challenges can only be met in a new multilateralism that instills confidence that the costs and rewards of lasting solutions will be shared by all. It therefore falls on policymakers to re-orient domestic and international policies to better manage the economic and social consequences of international integration and technological advancements, while being mindful of the global footprint of their actions.

The concept of a new multilateralism hinges on three complementary and reinforcing areas of policy action: domestic policies to build more resilient economies and promote economic opportunities; upgraded global cooperation that will provide a more level playing field across borders;  and a commitment to work together on broader global challenges.

Series:

Policy Papers