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The Investment Imperative for the G7

Summary:
Rich-country governments should be prepared to invest an additional trillion per year to boost growth and lay strong foundations for a green industrial revolution. But their economies will recover fully only if they also mobilize finance and foster investment in emerging markets and developing countries. LONDON – At the upcoming G7 summit in Cornwall, the major economies’ leaders have a critical opportunity to agree on a plan that not only drives a strong recovery from the COVID-19 pandemic for their own countries, but also speeds the transition to a more sustainable, inclusive, and resilient global economy. Making America Global Again Al Drago/Pool/Getty Images

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Rich-country governments should be prepared to invest an additional $1 trillion per year to boost growth and lay strong foundations for a green industrial revolution. But their economies will recover fully only if they also mobilize finance and foster investment in emerging markets and developing countries.

LONDON – At the upcoming G7 summit in Cornwall, the major economies’ leaders have a critical opportunity to agree on a plan that not only drives a strong recovery from the COVID-19 pandemic for their own countries, but also speeds the transition to a more sustainable, inclusive, and resilient global economy.

A key lesson that I trust G7 governments have learned from COVID-19 is how exposed and vulnerable every country is to global threats, including infectious diseases, climate change, and biodiversity loss. The challenges to well-being and prosperity highlighted by the pandemic are all interconnected, so we need an integrated approach to tackling them. The G7 has a special responsibility to lead here.

Rich-country leaders will...

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