UNDESA Releases World Economic and Social Survey 2010

29 June 2010: The UN Department for Social and Economic Affairs (UNDESA) has released the World Economic and Social Survey (WEES) 2010, which indicates that many of the global crises in recent years – such as the food, fuel and financial crises – are to a large extent due to major systemic failures in the global economy and weaknesses in the mechanisms for global governance.

To achieve a sustainable re-balancing of the global economy, the report calls for closer coordination across the trading system, the new regime for international financial regulation, the global reserve system and the mechanisms for mobilizing and channeling development finance and climate funding. The report recommends that the international community consider establishing a global economic coordination mechanism that goes beyond the Group of 20 (G20). [UN Press Release] [The Report]