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Gender eqaulity would boost GDP by as much as $28 trillion

Now here is a straight-forward way to boost GDP......by no less than $28 trillion, if a Report, from McKinsey & Co., as reported by Bloomberg, is right.

"Denying women full participation in the global economy is costly. McKinsey & Co. has now calculated by just how much.

Full gender equality would add 26 percent, or $28 trillion, to global gross domestic product in 2025, according to a new report by the consulting firm’s research and economics arm.


While capturing that potential may not be realistic in the short term, boosting women’s equality at the same rate as the fastest-improving nation in a region -- bringing Bangladesh to the level of Singapore, for instance -- would increase annual GDP by $12 trillion in 2025, the study said.


“Women are such a crucial part of society and they are an undertapped resource,” said Anu Madgavkar, a McKinsey Global Institute senior fellow and a lead author of the report. A $28 trillion increase in GDP roughly matches the U.S. and Chinese economies combined.


The report’s release coincides with the 20th anniversary of the UN’s declaration of a Platform of Action for women’s empowerment, which aims to ensure women achieve parity in economic, social, cultural and political decision making."
 

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