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Business News of Thursday, 17 October 2024

    

Source: norvanreports.com

Support for Economic Reforms hinges on communication, engagement, and trust

Support for Economic Reforms hinges on communication, engagement, and trust Support for Economic Reforms hinges on communication, engagement, and trust

The global economy faces low growth due to aging populations, weak investment, and structural barriers. To address this, countries must ease market entry, promote competition, keep workers in the labor force, and integrate immigrants.

However, public resistance to reforms stems from personal beliefs, perceptions, and distrust in governments, not just economic concerns.

Policymakers can boost support by improving communication, engaging the public in policy design, and offering support to affected groups.

Trust is crucial, and reforms must involve early, transparent dialogue and credible mitigating measures to build consensus and foster change.

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