United to secure economic prosperity for future generations

United to secure economic prosperity for future generations

Abstract

As youth take the foreground as agents of change, they are facing major challenges that affect economic prosperity, including scarcity of resources, changing demographics and hyper-urbanization in many regions of the world. How can parliaments work together to develop innovative policies to tackle shared socio-economic challenges, including achieving equitable development?

 

Rationale

Economic prosperity is affected by megatrends across many sectors, including transformative innovation in science and technology, megatrends in education, changing geopolitical landscapes, resource scarcity, terrorism, hyper-urbanization and aging population. For example, on the geopolitical front, the rise of emerging market powers is changing the balance of powers globally. This has led to an increasingly multi-polar world affecting economies across the planet. Protectionism and nationalism are on the rise because of a multitude of interrelated factors. In science and technology, exponential innovation is creating new industries and transforming long established business models. Hyper urbanization and aging populations will have a dramatic effect on the future of jobs and the wellbeing of economies. This session will examine the role of parliament in working collectively and with government, business and industry to develop frameworks and action plans that exploit the opportunities created by the above megatrends and promote equitable and sustainable economic growth across nations.