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Economy that fights inequality only way out of COVID-19 pandemic: Macron

BusinessToday.In     January 27, 2021

French President Emmanuel Macron emphasised on the need for an economy that fights inequality as the means to move out of the coronavirus pandemic. Speaking at the virtual Davos Agenda Summit on Tuesday, Macron urged companies to play an active role in reducing inequality within society.

Talking to WEF Founder and Executive Chairman Klaus Schwab virtually, Macron said, "We will get out of this pandemic only with an economy that fights inequality."

In the beginning of his address, Macron said that the coronavirus pandemic has transformed societies, while stressing on the importance of saving lives during a global health crisis.

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"The economy of tomorrow needs to think of innovation and humanity and has to build competitiveness alongside climate considerations," the French President added.

Macron noted that while capitalism has improved the lives of many people, it has also resulted in stark inequalities in the present society.

"Let's not forget that the target should always be to build the good life with all its advantages and with the will of respecting the other," he said.

Talking about the environmental challenges of the present, Macron said that more needs to be done to live up to the commitments made in The Paris Agreement to protect our planet.

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"A lot more needs to be done to live up to the commitments made to protect our planet," he said.

On advance technologies like artificial intelligence and quantum computing, Macron stated that these developments will completely change industries and capacity to solve problems including the climate crisis. But at the same time, he warned, technology can have a negative impact on societies and democracy.

"What is happening around us can change things deeply. Having that said, it means that we cannot build anything in the post-COVID world without reaping the benefits and learning the lessons from what we have experienced," he said.

He said societies are vulnerable and nature is reminding everyone of that fact.

"We are vulnerable to pandemics, climactic events, and so on. And so the economy of tomorrow needs to be strengthened by these lessons," Macron told the Summit.

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