UN / TRADE AND DEVELOPMENT REPORT

14-Sep-2017 00:02:13
The global economy appears stuck on its path to recovery, according to a new United Nation’s report, which sets out an ambitious alternative policy route to build more inclusive and caring economies. UNIFEED
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STORY: UN / TRADE AND DEVELOPMENT REPORT
TRT: 02:13
SOURCE: UNIFEED
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 14 SEPTEMBER 2017, NEW YORK CITY / FILE
SHOTLIST
FILE – RECENT, NEW YORK CITY

1. Wide shot, exterior United Nations headquarters

14 SEPTEMBER 2017, NEW YORK CITY

2. Wide shot, dais
3. Wide shot, journalists
4. SOUNDBITE (English) Dan Shepard, Information Officer, United Nations:
“The World’s economic growth is stuck in second gear, a situation that has far reaching implications on efforts to promote prosperity and eliminate poverty everywhere. Today we are launching UNCTAD’s ‘Trade and Development Report 2017: Towards a Global New Deal’ which looks at steps that can be taken to build more inclusive and caring economies.”
5. Med shot, journalists
6. SOUNDBITE (English) Elssa Braunstein, Senior Economic Affairs Officer, Division of Globalization and Development Strategies, (UNCTAD):
“We are underwhelmed by the global economic recovery. Growth has picked up a little bit, but we really are not lifting off. We are really far away from the growth rates that we had before financial crisis. And there is a sense in which the global economy and its capacity to deliver inclusive growth has been overwhelmed by the sort of business as usual environment that’s happened after the financial crisis.”
7. Med shot, photographer
8. SOUNDBITE (English) Elssa Braunstein, Senior Economic Affairs Officer, Division of Globalization and Development Strategies, (UNCTAD):
“The growth of trade is still sluggish, so there is this question, where will global demand come from? Now, developed countries no longer provide a net demand stimulus to the global economy, meaning that developed countries as a group are exporting more than they are importing, right? And this is very important from a development perspective. We also see that commodity prices are once again showing signs of weakness after a brief, but not full recovery. So, both of these factors are troubling from a development perspective.”
9. Med shot, journalists
10. SOUNDBITE (English) Elssa Braunstein, Senior Economic Affairs Officer, Division of Globalization and Development Strategies, (UNCTAD):
“Women’s employment rates are rising in most countries, not all, but most countries around the world, advanced and developing. But at the same time what’s happening, which no many are talking about, is that men’s employment rates are declining.”
11. Med shot, journalists
12. Wide shot, end of presser
STORYLINE
The global economy appears stuck on its path to recovery, according to a new United Nation’s report, which sets out an ambitious alternative policy route to build more inclusive and caring economies.

Launching the report, UNCTAD’s Trade and Development Report, 2017: Beyond Austerity – Towards a Global New Deal, Information Officer Dan Shepard said “the World’s economic growth is stuck in second gear, a situation that has far reaching implications on efforts to promote prosperity and eliminate poverty everywhere.”

The report states that people should be put before profits, calling for a twenty-first century makeover to offer a global “new deal”. Ending austerity, clamping down on corporate rent seeking and harnessing finance to support job creation and infrastructure investment will be key to such a makeover.

Elssa Braunstein, Senior Economic Affairs Officer at the Division of Globalization and Development Strategies of UNCTAD, said “we are underwhelmed by the global economic recovery. Growth has picked up a little bit, but we really are not lifting off.”

Braunstein said “we are really far away from the growth rates that we had before financial crisis. And there is a sense in which the global economy and its capacity to deliver inclusive growth has been overwhelmed by the sort of business as usual environment that’s happened after the financial crisis.”

UNCTAD notes that the world economy in 2017 is picking up but not lifting off. Growth is expected to reach 2.6 per cent, slightly higher than in 2016 but well below the pre-financial crisis average of 3.2 per cent. Most regions are set to register small gains, with Latin America exiting recession and posting the biggest turnaround, even if only at 1.2 per cent growth. The eurozone is expected to see its fastest growth since 2010 (1.8 per cent) but is still lagging behind the United States of America.

Braunstein said “the growth of trade is still sluggish” and “developed countries no longer provide a net demand stimulus to the global economy, meaning that developed countries as a group are exporting more than they are importing.”

She said “we also see that commodity prices are once again showing signs of weakness after a brief, but not full recovery” and stressed that “both of these factors are troubling from a development perspective.”

On gender, the report says that women are being excluded from better work opportunities, even as their employment participation increases and that of men decreases.

Braunstein said “women’s employment rates are rising in most countries, not all, but most countries around the world, advanced and developing. But at the same time what’s happening, which no many are talking about, is that men’s employment rates are declining.”
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