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Op-ed: Knocking down legal barriers to women’s economic empowerment

  • August 12, 2020

The Treasury Department will lend its leadership in multilateral development banks to encourage grants and projects that promote gender equality.  The Millennium Challenge Corporation will designate women’s economic empowerment as an institutional investment criteria.  Many other agencies and departments are undertaking similar programs.

Empowering women’s full and free participation in the economy is smart economic policy.  President Donald Trump has taken bold action to unleash opportunities for women to participate fully and freely in the global economy. 

In the United States, women have thrived under President Trump’s leadership. In his first three years in office, female unemployment in America reached a 66-year low.  Women secured over 70% of all new jobs created in 2019, and they made up the majority of the college-educated labor force.

Internationally, W-GDP has already positively impacted more than 12 million women in its first year and is on track to reach 50 million women in the developing world by 2025.  The administration’s 2017 national security strategy made women’s economic empowerment a priority action.  The National Security Council (NSC) leads by example.  For the first time ever, half of the NSC’s senior directors are women.

The evidence is clear.  When women are economically empowered, they invest back into their families and communities, producing a force multiplier effect that spurs economic growth. 

Countries with a greater balance of men and women in the workforce have greater economic growth and innovation, and they are less likely to be involved in conflict.  As President Trump knows, not only is empowering women the right thing to do, but global peace and prosperity require it. 

Robert C. O’Brien is President Donald Trump’s fourth national security advisor. Ivanka Trump is a senior advisor to the president.

Article source: https://www.cnbc.com/2020/08/12/op-ed-knocking-down-legal-barriers-to-womens-economic-empowerment.html

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