Global co-operation is what helped move billions out of poverty, and we need it now to get the world out of the Covid-19 quagmire, writes Børge Brende
of internet users has gone up from 1.6-billion during the 2008 financial crisis to 4.1-billion. And, artificial intelligenceincrease economic growth by as much as 30% over the coming 15 years in those countries that master the technology.
The global economy was so interconnected that a financial crisis in one country affected markets not just in another but in all those around the world This is why there is a sense that controlling — rather than co-operating on — frontier technologies is a path towards material and geopolitical gain. Amid today’s polarised context many have pointed to the co-ordination that took place in the wake of the 2008 financial crisis as an example of parties uniting to address a common and urgent challenge. Onlyafter the collapse of Lehman Brothers, central banks around the world co-ordinated in cutting interest rates.
In other words, at a time when global leaders are looking to maximise the benefit of stimulus responses to their own citizens and businesses, they would do well to co-operate with one another. By generating positive outcomes in the immediate term, aligning responses to the economic crisis could serve as the spark that re-sets global postures away from rivalry and towards co-operation over the long term.
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