«PREFACE
Crises such as the Global Financial Crisis (GFC) in 2007-09 and the COVID-19 pandemic in 2020 demonstrate what can happen when risks become reality and resilience is put to the test in our globalised economies and societies. Global openness and integration have brought important benefits to raise productivity gains, facilitate technology diffusion and lift hundred millions of people out of poverty. However, within such globally integrated economies, shocks, whether endogenous, such as the GFC, or exogenous, such as the pandemic, can rapidly turn into severe global economic downturns, as impacts cascade through interconnected systems and sectors.
Our economies and societies face a multifarious array of risks. Some acute shocks may be challenging to predict, while others may be the result of the chronic build-up of vulnerabilities, such as the impacts of climate change or imbalances and distortions in markets, both of which are shaped by policy and regulatory choices. Building resilience across our economies as a whole calls for a systemic policy approach to prevent the build-up of vulnerabilities and reduce exposure to shocks; to absorb shocks when they do occur; and, to recover rapidly and sustainably from these shocks through adaptation and transformation (“bouncing forward”). (...)». Continue a ler.
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