WDR 2020: Sneak preview

The next World Development Report (WDR) on Global Value Chains: Trading for untitledDevelopment is well under way. Check out our website for a sneak preview.

Since the Bank’s last report more than thirty years ago on Industrialization and Foreign Trade, the world has been transformed, mostly in positive terms from a development perspective. Several low and middle income countries can now participate globally thanks to global value chains (GVCs).

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Digital technologies allow people to take on risks and explore new opportunities

In the era of digital technology, the structure of production as well as the interaction orange_fengjie_linebetween humans and machines is being redefined. The diffusion and application of digital technology can increase productivity in an unprecedented manner, with potential to reshape the role of humans in the function of production. Jobs are the drivers of development and pillars of resilience for people. Five years ago, the World Development Report (WDR 2014),  Risk and Opportunity – Managing Risk for Development, highlighted the role of enterprises in supporting people’s risk management by absorbing shocks and exploiting the opportunity side of risk. There have been heated debates on how technology may lead to risks, such as job loss and structural changes of employment. While the risks are real, the estimates of the impact of digital technology on employment vary widely, from substantial job loss for both skilled and the unskilled workers, to potential job gains thanks to the complementarity of humans and machines, as well as the income and wealth effect derived from higher productivity.

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What will be the future of work?

Do you wonder if the good fortune and opportunities that you’ve enjoyed in your wdr_2019_coverprofessional life will be available to your children, and to their children? At a time of strong global economic growth, it may seem paradoxical that we face an existential crisis around the future of work. But the pace of innovation is accelerating, and the jobs of the future – in a few months or a few years – will require specific, complex skills. Human capital will become an ever more valuable resource.

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Divining the future of work

WDR-2019-woman-with-laptop-and-drone.jp“I like work, it fascinates me,” said Jerome K Jerome. “I can sit and look at it for hours.” We concur with the author of “Three Men in a Boat’, a novel which so fascinated Late Victorian England that, within a year of publication, the number of vessels on the River Thames had doubled.

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In Senegal, a call to invest in people and the planet

SenegalFor three days this month, the West African nation of Senegal was in the spotlight of global efforts to combat climate change and improve education in a rapidly changing world.

French President Emmanuel Macron and Senegal’s President Macky Sall co-hosted a conference in Dakar to replenish the Global Partnership for Education (GPE) – a funding platform to help low-income countries increase the number of children who are both in school and learning.

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