UN must have different approach for MICs – NEDA
THE National Economic and Development Authoirty (NEDA) is hoping that the recent address of one of its top officials at a United Nations (UN) forum would convince the global body to develop a different approach when dealing with middle-income countries (MICs), including the Philippines.
NEDA Undersecretary Rosemarie Edillon addressed the UN assembly in late September a day after US President Donald Trump spoke before the body about his concerns on different global issues.
According to Edillon, there should be a different approach to nations that are set to climb to upper middle-income country status.
Such nations must be given more merits when it achieve higher levels of economic productivity through diversification, technological upgrading, and innovation, including focusing on high-value added sectors, she said during the forum.
Edillon said MICs were facing three major challenges: Industry 4.0 or the fourth industrial revolution; climate change; and weak global demand.
She also said that, while the fourth industrial revolution presents opportunities to accelerate MICs’ economic growth, it can also be disruptive.
The biggest challenge to nations trying to achieve upper middle-income stage is weak global demand, resulting from the protectionist policies of some advanced economies.
The Philippines is poised to increase its per capita income to $4,000 in 2019 and $5,000 in 2022 to achieve upper MIC status.
“We need to ensure broad-based participation in this growth process. We need to improve human capital, especially of the poor, and aggressively address the digital divide. We need to ensure that the technology is accessible to all,” Edillon said.
“Hopefully, it will convince the UN system to develop a different lens when dealing with middle-income countries like the Philippines,” she added.
“They need to develop different framework of assistance, models of development and measures of poverty, concerning MICs.”
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