Asia Pacific social outlook 2020 From International Labour Organization

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The following is the Asia Pacific social outlook 2020 From International Labour Organization recommended by recordtrend.com. And this article belongs to the classification: global economy , research report.

The report points out that although the socio-economic status of most countries in the Asia Pacific region has risen rapidly, the social security system is still relatively weak and there are many gaps to be filled. About half of the population in the region has no social security coverage, and only a few countries have relatively extensive social security systems.

According to the report, China has made progress in many areas of social security in the past few decades. For example, China’s investment in social security increased from 3.2% of GDP in 1995 to 7.2% in 2017. If China’s data are included, the coverage rate of the social security system in the Asia Pacific region will be nearly 50%; if China is not included, the proportion will fall to less than one third.

“Comprehensive social security lays the foundation for a healthy society and a vibrant economy. The pandemic has shown the stabilizing role of well functioning social security systems and how their absence exacerbates inequality and poverty, thus giving high priority to this urgent task. ” The relevant head of the United Nations said.

The report points out that the scope and scale of existing projects are still limited. Most poverty targeted programs fail to reach the poorest families, and the epidemic is likely to push back poverty eradication efforts by nearly a decade. At the same time, the epidemic has caused many countries to face a high degree of inequality in outcomes and opportunities, exacerbated by population ageing, urbanization, natural disasters and climate change.

The report points out that the serious shortage of investment is one of the main factors causing the huge gap in coverage. Apart from public health, many countries in the region spend less than 2% of GDP on social security. The level of population investment is so low, in sharp contrast to the global average of 11%. Another key reason is that informal employment is very common in the region, accounting for nearly 70% of all workers.

Expanding social security will help reduce poverty and inequality, the report said. If the government can provide basic child benefits, disability benefits and pensions, the proportion of families living in poverty will drop by up to 18 percentage points.

While the investment required for 2% to 6% of GDP is huge, the report shows that most countries can do it. The report recommends that governments, on the basis of social dialogue, re prioritize existing resources, increase public revenue, use new technologies, and integrate social security into national development strategies.

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