Latin America Current Affairs - 2019

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World Economic Situation and Prospects 2019: Challenges in attaining SDG

The United Nations report World Economic Situation and Prospects 2019 discusses various challenges in attaining the sustainable development goals. The challenges listed are:

  • Economic growth is uneven and is failing to reach where it is most needed. Per capita incomes would stagnate or grow only marginally in 2019 in several parts of Africa, Western Asia, Latin America and the Caribbean.
  • Even where the per capita growth is strong, economic activity is driven by core industrial and urban regions, leaving peripheral and rural areas behind.
  • The report notes that eradicating poverty by 2030 will require both double-digit growth in Africa and steep reductions in income inequality. This seems a distant possibility in the current scenario.
  • The confluence of risks is clouding and it may severely disrupt economic activity and inflict significant damage on longer-term development prospects.
  • The various risks include escalation of trade policy disputes; financial instabilities linked to elevated levels of debt; and rising climate risks, as the world experiences an increasing number of extreme weather events.

The report notes that the simultaneous appearance of several important risks endangers efforts to achieve the 2030 Agenda for Sustainable Development containing 17 specific goals to promote prosperity and social well-being while protecting the environment.

Month: Categories: Business, Economy & BankingUPSC

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Global Talent Competitive Index: Key Facts

The Global Talent Competitive Index prepared by the INSEAD business school in partnership with Tata Communications and Adecco Group was released on the first day of the World Economic Forum (WEF) Annual Meeting 2019.

The Global Talent Competitive Index measures how countries and cities grow, attract and retain talent, ranking 125 countries and 114 cities across all groups of income and levels of development.

Where does India stand?

The findings of the 2019 Global Talent Index for India are:

  • Even though India has moved up one position to rank 80th on the global talent competitive index, India remains a laggard among the BRICS nations.
  • India’s performance was better than its lower-income peers when it comes to growing talent (48th) and access to growth opportunities (41st).
  • In spite of the scope for improvement across the board, India’s biggest challenge is to improve its ability to attract (95th) and retain (96th) talent.
  • India needs to address its poor level of Internal Openness (116th) in particular with respect to weak gender equality and low tolerance towards minorities and immigrants and its disappointing showing in lifestyle (112th) indicators.

Global Findings

The global findings of the Index are:

  • Switzerland is followed by Singapore, the US, Norway and Denmark in the top five on the list.
  • The talent gap between higher and lower-income countries has widened over the last five years.
  • Countries in Asia, Latin America and Africa are seeing a progressive erosion of their talent base.
  • China’s ranking fell by two places to 45. Even then China is the best performer among BRICS countries.
  • The report cities rather than countries are developing stronger roles as talent hubs and will be crucial in reshaping the global talent scene.
  • The top-ranked city in the index is Washington DC, followed by Copenhagen, Oslo, Vienna and Zurich.

The study found that entrepreneurial talent has become a key differentiator in relative talent competitiveness.

Month: Categories: InternationalReports & IndicesUPSC

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