The U.S. Chamber of Commerce recently held its Global Forum on Economic Recovery, which brought together government leaders and business executives to discuss the opportunities and consequences of rebuilding the global economy after the coronavirus pandemic.
To start the event, Suzanne Clark, president and CEO of the U.S. Chamber of Commerce, gave an opening keynote speech about the problems caused by the pandemic that the United States and the world currently face and how these challenges impact the global economy. Her address underlines the optimism and innovation that the U.S. brings to its economic recovery. Here are two takeaways from Suzanne Clark’s keynote address.
Clark’s Three Priorities to Rebuild the Global Economy Are Trade, Technology, and Sustainability
In her opening remarks, Suzanne Clark outlined the three priorities for rebuilding a strong global economy for the future: international trade, technology, and sustainability.
“The first is to strengthen international trade and investment and facilitate global commerce through secure, sustainable, and efficient supply chains,” said Clark. “Several hundred million people have since slipped back into poverty and to help lift them up, economies would be smart to open themselves up to opportunities in markets around the world. It's not lost on us here in the U.S. that 95% of the world's customers live beyond our shores. America is open for business. We're eager to ink new trade deals and strengthen [and] establish alliances.”
“The second priority is technology,” Clark continued. “The pandemic proved in new and astonishing ways how technology improves our lives, keeps us connected, and drives commerce.”
“Many small businesses shifted their focus from brick and mortar to digital, enabling them not only to serve their communities but to export to countries around the globe," Clark said. "Large businesses are increasingly using tech platforms to conduct global services trade. As a result, trade in services is growing 60% faster than traded goods.”
“The third priority is sustainability … [which] isn’t possible without innovation. For years, business has been driving the innovation and investment needed to solve global environmental challenges.”
Climate Change Must Be Addressed for Our Economic Future and Well-Being
Going in hand with sustainability practices, Clark addressed the importance of addressing climate change for the future of our economy and well-being.
“Tackling climate change will require both the ideas and investment of American enterprise and smart bipartisan policy solutions,” said Clark. “In the U.S., achieving our desired reductions in greenhouse gas emissions, while also meeting the world's growing demand for power will require new technology and the private sector will have to lead the way.”
