Strengthening the cooperation among countries to generate inclusive growth

The cooperation and interaction among countries are very relevant and important, according to the International Monetary Fund Chairman, Agustín Carstens. Furthermore, inclusive growth is also of great value for the included and affected countries due to the fact that they should invest in the skills of the population that live on their territory.

The fact that the key message of the Spring Meetings is the gained momentum of the world economies, providing the world leaders to follow certain recommendations that will help the economies move forward. Some of the recommendations are continuous cooperation, reinforcement of economies among countries in this fragile recovery period. Some countries need to work more on the approach where they will use fiscal policy, monetary policy to be considered by some countries that need those resources, and thirdly, the most important topic is structural reforms that will help to improve the productivity and skills of the nations. This process of recovery is cyclical and the structural growth is needed although it is limited in some countries.

In order to achieve inclusive growth, the resources should be used optimally and equitably, as well as the cooperation among people to be within countries and among them. That cooperation will be improved with free and fair trade, an interaction between differently developed economies will be helpful. As an additional positive thing for the economies is the inclusive growth at the domestic level, by investing in the skills development of the population so that the trends in technology innovations and other areas can be followed. However, one distortive area for the economies are the tax policies and procedures, limiting the economic efficiency.

Finally, the effects of globalization on national and international economies had a different impact, positive effects like openness and trade for boosting a productivity and growth, so that stability of macro policy rights is achieved.