The book underlines globalization’s potential to stimulate productivity and growth, whilehighlighting the importance of pursuing trade, employment and social policies together in order to harness this potential. It contains contributions from leading academic experts who analyze the various channels through which globalization affects jobs and wages.
“The International Chamber of Commerce (ICC) will draw from the findings of this research project to make concrete policy recommendations to G20 leaders,” said ICC Chairman Gerard Worms. “The ICC Research Foundation is very pleased to have supported this project, which will contribute to a better understanding of making globalization sustainable.”
The ICC Research Foundation was created in 2009 to fund independent research that contributes to public knowledge and debate, with the goal of improving economic conditions around the world. It also aims to promote a deeper understanding by policymakers, the media and the public of the benefits of global trade and investment.
Making Globalization Socially Sustainable addresses three challenges faced by policy-makers as they seek to ensure the social sustainability of globalization. First, the structure and levels of employment resulting from increased openness can be more or less favourable to the labour force and to economic growth. Second, openness – while helping to offset domestic difficulties – can increase the vulnerability of domestic labour markets to external factors, as witnessed during the Great Recession. Third, the gains from globalization are not distributed equally and some workers and firms may lose in the short and even medium term. The authors of this book discuss policy responses to these three challenges.
ICC recently created the G20 Advisory Group, composed of CEOs from major multinational corporations, to deliver business input to G20 leaders. The Advisory Group is channelling its efforts ahead of the next Summit – being held in Cannes, France, on 3-4 November 2011 – to ensure that the interests of the private sector are taken into account by the G20 leaders in areas such as trade, economic growth and job creation.
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