• Jakarta International MUN

Integration of E-Commerce and Digital Financing for Sustainable Economic Growth.

by Rolland Van Helden | 13 August 2021, 19:11 WIB | Reuters | ECOFIN

ECOFIN COUNCIL, Aug 13 (Reuters) - Many esteemed delegates have shown up today to the conference to bring little points of view. As the council went on, the delegates relatively stated the same things, with only a few delegates standing out to drive the tide of the council to a new direction.

The delegate of the USA spouted acknowledgement for technological illiteracy in other countries but with generally no plan to increase the problem just stated.

Meanwhile, the delegates of Colombia, New Zealand, and Singapore worked for hand in hand in the speech. Having generally the right idea to push back financial illiteracy and has planned to solve the related stakeholders be it financially illiterate people or the culture of technological distrust.

Some others focused on a more equitable economy for all, led by the delegate of Estonia and Singapore wanting to strengthen cybersecurity by lending a hand to countries less equipped with fintech and financial literacy as a whole.

However, the dark horse, delegate of Libya, was more defensive during the unmoderated caucus stating he fears Libya will likely be enslaved by the economic schemes of more developed countries in the guise of wanting to help Libya.

So far, however, the council holds the same views. And the minimal amount of clashes of ideas is suspicious in the sense that there might have been a pre-conference agreement.

But all in all, the council fails to acknowledge and answer a part of the problem with financial literacy in less financially literate countries, which is how irresponsible users of E-commerce platforms can be weaponized or breached.

With little reassurance from all parties and or the lack of awareness of this problem, how will they reassure the creation of economic gain rather than loss considering the state of financially illiterate countries now?

Jakarta International MUN 2021