There's a multiplier effect in women's advancement similar to the multiplier effect in economics.

And studies have shown that when companies increase employment and leadership opportunities for women,

they reap the benefits in areas like organizational effectiveness and growth.

Women make about 75% of all household consumption decisions and control close to 100 trillion in wealth.

So women can no longer be ignored.

Welcome to Living Beyond Borders, a podcast from City, private bank, and G0 Media.

On this program, we examine global risks and opportunities from the angles of both politics and economics.

I'm Tracy Moran, managing editor of G0's Daily Newsletter Signal. In 1995 1995 at a UN conference on women's rights, then First Lady Hillary Clinton famously said this.

If there is one message that echoes forth from this conference, let it be that human rights are women's rights and women's rights are human

rights once and for all. More than two decades later, there have been some signs of progress for

women and girls globally, but the pandemic brought two major setbacks, especially in the workplace.

In the U.S., at least two million women left the workforce, bringing their participation in the labor market to its lowest

level since 1988. Still, studies show that when women work, societies reap the benefits. In fact,

McKinsey reported that closing the gender gap could add as much as $28 trillion

to global GDP.

We're going to talk about how to achieve that today.

I'm joined now by Ida Lou, global head of city private bank.

Hi, Ida.

Hi, Tracy.

It's great to be on.

And Isidora Sasehius, Global Macrogeostrategi analyst at Eurasia Group. Hi, Isidora. Hi, Tracy. I'm happy to be here.

Ida, let's start with you. We saw so many headlines during the pandemic about women dropping out of the

...