While the concept of financial inclusion generally refers to individuals and households on the margins of the banking system, similar economic and moral principles apply to whole communities, countries, and regions within the global economy. In each case, the fundamental task is to connect economic actors to opportunities in ways that will redound to everyone's benefit. How people are brought into the fold is just as important as whether they are. After decades of unilateral, paternalistic, top-down approaches to globalization, it is clear that broad-based cooperation is key.
How can we rethink bilateral and multilateral arrangements to maximize opportunities and economic access at all levels of development? What will it take to ensure that technologies developed in aging advanced economies are deployed appropriately in younger, labor-abundant developing countries? What new structures are needed to manage sovereign debt in a dollar-dominated global monetary system? How can trade arrangements be updated to address legitimate social, political, and environmental concerns? What international arrangements are needed to maximize the benefits and limit the disruptions of immigration?
