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Newlines Institute welcomes the G7 Economic Resilience Panel’s final report

Newlines Institute welcomes the G7 Economic Resilience Panel’s final report

Newlines Institute welcomes the G7 Economic Resilience Panel’s final report, “Global Economic Resilience: Building Forward Better,” to which Newlines Director Dr. Azeem Ibrahim served as an advisor

Oct. 15, 2021

The G7 Economic Resilience Panel published its final report, “Global Economic Resilience: Building Forward Better,” on Oct. 13. Newlines Institute’s Dr. Azeem Ibrahim, head of the Special Initiatives Program, served as an adviser to the panel. The institute is pleased that one of its directors was able to make a valuable contribution to this effort to better prepare global economies for the next crisis.

“This report is a serious wake-up call for the G7 countries to take the lead in building economic resilience and get ahead of the curve before AI, tech, China’s assertive economic power, and climate change get ahead of the U.S. and other powers,” Ibrahim said.

The panel, consisting of eight experts appointed by G7 leaders, set out proposals that reflect the opportunities and challenges of the mid-21st century, addressing issues like global supply chains, vaccine distribution, access to critical minerals, cyber threats, digital taxes, crypto assets, and the transition to green growth.

The recommendations listed in the report’s “Cornwall Consensus” focus on reaching beyond traditional economic policy levers to stabilize global economies. Key recommendations include:

  • Driving international and domestic investment in economic resilience to deliver the new infrastructure and research required to respond to the coming decade’s challenges;
  • Ensuring that international trade rules enable the green transition by demonstrating leadership by the G7 and allies through smaller agreements and alliances within the World Trade Organization membership; and
  • Committing to information sharing, traceability, and environmental, social, and governance standards reform for minerals critical to the green transition.

Ibrahim’s participation as an adviser to the panel is in line with the Newlines Institute’s vision of a world in which people and nations can thrive through recognition of a connection among all people and a desire to achieve harmony and balance.

The G7 Economic Resilience Panel report can be found here. An overview of the panel and its work is available here.

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