Sánchez: Securing the prosperity of the middle class and workers
Published: Wednesday, Jan 17th 2024, 19:01
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At the World Economic Forum in Davos, Spain's socialist head of government Pedro Sánchez called for the prosperity of the middle and working classes to be secured. The rise of far-right forces is just a symptom of deeper problems.
"One of them is the weakening of the middle and working classes, who have not always benefited from the economic changes of the past decades, who suffered from the financial crisis of 2008 and 2012 and are now anxious about the future while their purchasing power is dwindling," Sánchez said in a speech on Wednesday.
For a growing proportion of people, it is becoming increasingly difficult to save money, buy a house or simply go on vacation. "We must stop this erosion without turning our backs on our values, the ecological crisis or the needs of poorer countries," emphasized the head of government of the EU's fourth-largest economy. Responsible development of artificial intelligence and a strengthening of rules-based international relations are crucial for a better future.
However, the risks should by no means be underestimated. If the targets set for sustainable development are missed and the average temperature rises by more than 1.5 degrees, ecosystems will be destroyed and economic output will fall. The number of democratically constituted states could decrease due to fake news and further political polarization and social inequality could increase due to misguided digitalization. "This is not a dystopia (pessimistic picture of the future), but a very possible future if we allow ourselves to be carried away by inertia or resignation. There is a lot at stake," said Sánchez.
©Keystone/SDA
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