Press Briefing on World Economic Situation and Prospects 2019

Elliott Harris, UN Chief Economist and Assistant Secretary-General for Economic Development and Dawn Holland, Chief, Global Economic Monitoring Branch, Economic Analysis and Policy Division, Department of Economic and Social Affairs (EPAD/DESA).

• Categories: Media / Press Conferences
• Video Length: 00:38:58
• Production Date: 21 January 2019
• Asset Language: English
• Personal Subject: DAWN HOLLAND; ELLIOTT HARRIS
• Corporate Name: DEPARTMENT OF ECONOMIC AND SOCIAL AFFAIRS - DESA
• Subject Topical: 2030 AGENDA; ECONOMICS; POLICY-MAKING
• MAMS Id: 2348641
• Parent Id: 2348521

Description

“We still have relatively strong growth, but we do see rising risks on the horizon and an increasing likelihood that some of these risks might actually materialize,” said Elliott Harris, United Nations Chief Economist, in comments coinciding with the launch of the World Economic Situation and Prospects 2019 (WESP) report.

Among these looming dangers, accelerating trade tensions are already “having an impact” on global trade and employment, Mr. Harris told UN News.

In addition, rising national debt is also crippling many countries’ ability to provide basic services, but this and other risks – such as those from climate change and waning support for international cooperation – could be avoided or minimized if countries worked together to do so, the UN’s top economist insisted.

With mounting pressures in the areas of international trade, international development finance and tackling climate change, the report underscores that strengthening global cooperation is central to advancing sustainable development.

Yet, these threats come at a time when international cooperation and governance are more important than ever – many of the challenges laid out in the 2030 Agenda for Sustainable Development are global by nature and require collective and cooperative action. Waning support for multilateralism also raises questions around the capacity for collaborative policy action in the event of a widespread global shock.

For further details please see source:
UN NEWS

For full report please see:
WORLD ECONOMIC SITUATION AND PROSPECTS (WESP) REPORT