China News Service, United Nations, March 25. The United Nations released a report on the 25th that it is estimated that the new crown pneumonia epidemic has caused the global loss of 114 million jobs and about 120 million people have fallen into extreme poverty.

　　The report is entitled "Sustainable Development Financing Report 2021" and was prepared by the United Nations Department of Economic and Social Affairs.

According to the report, the global economy has suffered the worst recession in 90 years, and the most vulnerable social groups have been affected the most.

There is a clear imbalance in the capacity and measures of countries to respond to the epidemic, which in turn has exacerbated the already growing gap and inequality between countries.

The global funding for stimulus and recovery is as high as US$16 trillion, but less than 20% of it is used in developing countries; as of January this year, only 9 of the 38 countries that have launched vaccines are not developed countries.

Before the outbreak, about half of the least developed countries and low-income countries were already in debt distress or facing higher risks. Due to the decline in taxes due to the new crown pneumonia pandemic, the debt levels of these countries have soared.

　　In response to the above issues, the report puts forward suggestions in the areas of response to the epidemic, sustainable investment, financial and digital economy reforms.

　　In response to the epidemic, the report calls on countries to reject vaccine nationalism and increase support for the "Global Cooperation to Accelerate Development, Production, and Equitable Access to New Tools for Prevention and Control of New Coronary Pneumonia" initiative to make up for the funding gap of more than 20 billion U.S. dollars in the plan in 2021; Fulfill the commitment to use 0.7% of the gross national income (GNI) for government development assistance (ODA), and provide new preferential financing for developing countries, especially the least developed countries; through the provision of liquidity of funds and debt relief support Avoid debt distress so that developing countries can cope with the new crown epidemic and its economic and social impact.

　　In terms of sustainable investment, the report recommends using the current historically low interest rates to provide financing to developing countries at a fixed interest rate, including long-term financing for more than 50 years; better use the public development bank as a tool for sustainable development investment; adjust the capital market The direction is to link the short-term incentive measures in the investment chain with sustainable development and reduce the risk of impact on the sustainable development goals.

　　For reforms in the financial and digital economy, the report recommends that countries explore global solutions for taxation under the digital economy to combat corporate tax avoidance and reduce vicious tax competition; make better use of technology to combat illegal capital flows; establish a global reporting framework that requires companies to Responsible for social and environmental impacts, and incorporate climate risks into financial supervision; review legal frameworks such as antitrust laws to reduce the market power of large-scale digital platforms; adjust the labor market and fiscal policies based on the world economic reality such as digital trends.

　　UN Deputy Secretary-General Amina Mohamed said at the press conference that day that a divided world is a disaster for everyone. It is morally justified and consistent with helping developing countries overcome this crisis. Everyone’s financial interests.

On the other hand, if the old rules are not changed, mankind will inevitably repeat the same mistakes in the future.

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