Social protection is key to tackle Asia-Pacific’s inequality trap

Second, productive and decent work should be even more strongly promoted. Forward-looking macroeconomic policies, coupled with active labor market programs and policies that encourage diversification, including industrial upgrading and productivity growth are critical. Such approaches will ensure that economic growth generates more and better employment for people working in vulnerable conditions, while avoiding a "race to the bottom" triggered by unfettered international competition.

Third, social protection should be enhanced to ensure that everyone has access to quality essential services. Transformative social protection policies need to be anchored in national legislation and aim beyond providing short-term safety nets, to lift people out of poverty and vulnerability. Complementing their redistributive role, well-designed and implemented cash transfers are an important vehicle of inclusive, pro-poor growth. Good practices from around the region illustrate that comprehensive social protection systems are feasible and affordable but necessitate political will. Strengthening the evidence base on inequalities and social protection will also further facilitate the development and implementation of effective policies and programmes. Innovative financing schemes, especially in partnership with the private sector, will be essential in this regard.

These three policy measures benefit all, from individuals and communities, to public institutions and private actors. They constitute a shared responsibility to inspire new partnerships and creative approaches, as we move to implement the 2030 Agenda.

Asia-Pacific inequality cannot be ignored. To do so jeopardizes the future we want of a more prosperous, inclusive and sustainable Asia-Pacific region.

Download ESCAP's new publication: "Time for Equality: The Role of Social Protection in Reducing Inequalities in Asia and the Pacific" at http://www.unescap.org/sites/default/files/SDD%20Time%20for%20Equality%20report_final.pdf.

Dr. Shamshad Akhtar is an Under-Secretary-General of the United Nations and Executive Secretary of ESCAP. She has also been the UN's Sherpa for the G20 and served as Governor of the Central Bank of Pakistan and Vice-President of the MENA Region of the World Bank.