Ajay Banga, President of the World Bank

Economic Progress

Global economic progress is faltering. The uncertainty caused by COVID-19, Russia's invasion of Ukraine, technologies associated with the Fourth Industrial Revolution, dramatic shifts in international trade, and political upheaval have left many disillusioned - and triggered social tension, worsened inequality, and a more urgent need to foster cooperation. Stakeholder capitalism, designed to benefit all stakeholders and the environment rather than just shareholders, could be a means to achieve better global health, greater sustainability, more inclusive development, and revived productivity growth.