Yesterday I had the privilege of joining one of the roundtables at the UN Summit on the Millennium Development Goals. The roundtable on emerging issues, chaired by the Presidents of Finland and Slovenia, spent much of the time discussing the global economic downturn and the need for economic growth as a key priority for addressing all of the MDGs. My small contribution to the discussion was as follows:
The Center for International Private Enterprise is pleased to join this gathering and have the private sector be part of this discussion–particularly in light of the many comments regarding the global financial crisis and the need for economic growth, it is important to recognize that business is an important segment of society and is a constituent for reform debates. As countries grapple with the questions outlined here today regarding the quality and breadth of growth, business clearly plays a key role.
It is important to remember that the business community has many faces. It is more than the multi-national companies or large state enterprises that may first come to mind, it is also the small entrepreneurs and dynamic young businesses that are keen to contribute to society both as a growing part of the economy and as engaged citizens in economic policy debates.
At CIPE—the Center for International Private Enterprise—we work with a global network of just such businesses in membership organizations such as chambers of commerce or business associations, as well as with think tanks and other leading economists and democracy activists. A recent survey of our partner network found that 80 percent saw adverse affects of the current crisis in their countries. Forty percent saw a subsequent downturn in public support for markets, and twenty-five percent see a downturn in public support for democracy itself. There was consensus that the policy response to the crisis is crucial in determining future public levels of support for democracy.
We at CIPE hear much from countries who are interested in attracting investment as a source of economic growth. Yet they must remember that institutions such as rule of law, property rights protection, and democratic processes will determine the environment in which those investor decisions take place.
We must also recognize that building domestic markets is a crucial and needed source of growth. Building strong domestic markets cannot happen, however, by ignoring half of the consumers, half of the knowledge base, and half of the ingenuity and innovation needed for growth. I’m speaking, of course, about women—who are neither an issue to be addressed nor a problem to be solved, but are a source of power, growth, and progress for all countries.
I encourage all of the delegations here, both governmental and nongovernmental, to view a broader base of business—businessmen and businesswomen—as an important partner in policy debates, to recognize that the common goal of improving economic conditions for all makes an excellent and positive starting point for a productive dialogue. And I encourage you to engage in that dialogue at both the national and local levels to move this goal forward.
Published Date: September 22, 2010