In view of rising anti-globalization sentiments and increasing protectionist measures the B20 leadership issued the following statement for the attention of G20 Sherpas.

The B20 is deeply concerned about current anti-globalization sentiments, which can be witnessed in many countries around the world.

Increasingly, communities are voicing strong opposition to trade liberalization and international investment. We need to take these concerns seriously and support communities during times of change and disruption. At the same time, seemingly easy solutions risk having long-term negative consequences for business, workers, and consumers. We urge governments to resist the temptation to resort to protectionist measures such as trade barriers or investment restrictions.

Trade promotes prosperity worldwide. Between 1990 and 2014, world trade increased about fivefold and global per capita income grew by a factor of 2.5. This had a very real and positive effect on people’s lives: hundreds of millions of people have been moved out of poverty and seen their living standards and incomes improve. This has been particularly evident in regions that have proactively integrated into the world economy such as East and Southeast Asia.

Prosperity is the result of exchange – of ideas, goods, services, and finance. The advantages of trade and investment are manifold: People can learn from each other both in business and beyond. Production becomes more efficient through specialization and economies of scale. Furthermore, the opening of markets strengthens competition. Both benefit consumers, as their choice of diverse and high quality goods and services increases, while becoming available at lower prices.

Increased openness benefits many aspects of economies and societies. More opportunities for exchange mean lower production costs, less resource consumption for production as well as technology and knowledge transfer. Gains from trade can contribute to meet major challenges of our time: migration flows, climate change, and global health risks. Globalization and sustainability are not mutually exclusive but rather mutually reinforcing.

However, globalization is also accompanied by major challenges. We are acutely aware that despite the overall benefits of trade and investment flows, anti-globalization sentiments have been growing. An increasing number of communities feel they are on the losing end of greater competition. More and more people find it hard to adapt to a rapidly changing world. Business and governments must work together to deal with these concerns and manage the transition.

First, this requires greater transparency and more tangible communication on both the benefits of globalization and the drawbacks it entails. Governments and businesses need to jointly ensure that trade and investment are not merely free but also fair. We need to jointly strengthen our efforts to improve education and lifelong learning to help people seize new opportunities in a changing world. Social protection systems, which ensure a safety net for people having lost employment, active labor market policies, which support people getting back to work, and a strong social partnership can help to make economic growth more inclusive. This should provide the basis for independence and individual fulfilment across the globe, for people of all backgrounds and educational experiences.

To tackle these challenges, there are no easy solutions. Globalization has brought new opportunities, but it has not made the world simpler. Even if the answers are sometimes difficult, one thing is clear: the challenges of globalization cannot be solved within national borders. The G20 is an important forum for international economic cooperation. It represents about two thirds of the global population, across all levels of development, and more than three quarters of global GDP.

Given its role, the G20 is the right forum to ensure that people around the world can continue to benefit from open markets, while shaping globalization in a way that offers fair opportunities to countries, companies, and citizens. The B20 stands ready to assist the G20 in its efforts.

Signatories

Timothy Adams

Co-Chair B20 Financing Growth & Infrastructure Taskforce

CEO & President Institute of International Finance

Mary Andringa

Co-Chair B20 Small and Medium-sized Enterprises Cross-thematic Group

Chair of the Board Vermeer Corporation

Loïc Armand

Co-Chair B20 Trade & Investment Taskforce

President L’Oréal France, President Commission Europe MEDEF

Oliver Bäte

Chair B20 Financing Growth & Infrastructure Taskforce

CEO Allianz SE

Sabine Bendiek

Co-Chair B20 Digitalization Taskforce

CEO Microsoft Germany

Kurt Bock

Chair B20 Energy, Climate & Resource Efficiency Taskforce

CEO BASF SE

Gerhard F. Braun

Chair B20 Employment & Education Taskforce

Vice-President Confederation of German Employers’ Associations (BDA)

Wolfgang Büchele

Co-Chair B20 Energy, Climate & Resource Efficiency Taskforce

CEO Linde AG

Andrey Bugrov

Co-Chair B20 Responsible Business Conduct & Anti-Corruption Cross-thematic Group

Deputy Chairman of the Board of Directors, Senior Vice-President MMC NORILSK NICKEL

Hans-Paul Bürkner

Co-Chair B20 Digitalization Taskforce

Chairman Boston Consulting Group

John Cryan

Co-Chair B20 Financing Growth & Infrastructure Taskforce

CEO Deutsche Bank AG

Elmar Degenhart

Co-Chair B20 Energy, Climate & Resource Efficiency Taskforce

CEO Continental AG

John W.H. Denton

Co-Chair B20 Financing Growth & Infrastructure Taskforce

Partner & CEO Corrs Chambers Westgarth, First Vice-Chairman International Chamber of Commerce

Xabier Etxeberria

Co-Chair B20 Energy, Climate & Resource Efficiency Taskforce

CEO Gamesa Corporación Tecnológica

Joanne Farrell

Co-Chair B20 Energy, Climate & Resource Efficiency Taskforce

Group Executive Health, Safety, and Environment and Managing Director Australia Rio Tinto

Daniel Funes de Rioja

Co-Chair B20 Employment & Education Taskforce

President International Organization of Employers

José Manuel González-Páramo

Co-Chair B20 Financing Growth & Infrastructure Taskforce

Member of the Executive Board BBVA S.A.

Jürgen Heraeus

B20 Chair

Klaus Helmrich

Chair B20 Digitalization Taskforce

Member of the Managing Board Siemens AG

Timotheus Höttges

Co-Chair B20 Digitalization Taskforce

CEO Deutsche Telekom AG

David Iakobachvili

Co-Chair B20 Employment & Education Taskforce

President Orion Heritage Co. Ltd.

Ju Weimin

Co-Chair B20 Financing Growth & Infrastructure Taskforce

Executive Vice-President China Investment Corporation

Bertram Kawlath

Co-Chair B20 Small and Medium-sized Enterprises Cross-thematic Group

Managing Partner Schubert & Salzer GmbH

Erol Kiresepi

Co-Chair B20 Employment & Education Taskforce

Chairman & CEO Santa Farma Pharmaceuticals

Jean Lemierre

Co-Chair B20 Financing Growth & Infrastructure Taskforce

Chairman of the Board of Directors BNP Paribas Group

Monique Leroux

Co-Chair B20 Small and Medium-sized Enterprises Cross-thematic Group

President International Co-operative Alliance, Chair of the Board Investissement Québec

Jack Ma

Co-Chair B20 Trade & Investment Taskforce

Executive Chairman Alibaba Group

Lynette Magasa

Co-Chair B20 Small and Medium-sized Enterprises Cross-thematic Group

CEO Boniswa Corporate Solutions

Jamal Malaikah

Co-Chair B20 Trade & Investment Taskforce

President & COO NATPET

Jorge Mandelbaum

Co-Chair B20 Responsible Business Conduct & Anti-Corruption Cross-thematic Group

President CIPPEC

Emma Marcegaglia

Chair B20 Trade & Investment Taskforce

Chair of the Board Eni S.p.A., President BusinessEurope

Mthunzi Mdwaba

Co-Chair B20 Employment & Education Taskforce

Regional Vice-President (Africa) International Organization of Employers

Yogendra Kumar Modi

Co-Chair B20 Employment & Education Taskforce

Executive Chairman Great Eastern Energy Corporation Ltd.

Klaus Moosmayer

Chair B20 Responsible Business Conduct & Anti-Corruption Cross-thematic Group

Anti-Corruption Chair BIAC, Chief Compliance Officer Siemens AG

Alexey Mordashov

Co-Chair B20 Trade & Investment Taskforce

Chairman of the Board of Directors Severstal Group

Sunil Bharti Mittal

Co-Chair B20 Trade & Investment Taskforce

Chairman Bharti Enterprises, Chairman International Chamber of Commerce

Pierre Nanterme

Co-Chair B20 Digitalization Taskforce

Chairman & CEO Accenture

Peder Holk Nielsen

Co-Chair B20 Energy, Climate & Resource Efficiency Taskforce

CEO & President Novozymes A/S

André Oliveira

Co-Chair B20 Responsible Business Conduct & Anti-Corruption Cross-thematic Group

Legal Director BASF South America

Dany Qian

Co-Chair B20 Energy, Climate & Resource Efficiency Taskforce

Vice-President JinkoSolar

Peter Robinson

Co-Chair B20 Employment & Education Taskforce

President & CEO United States Council for International Business

Klaus Rosenfeld

Co-Chair B20 Digitalization Taskforce

CEO Schaeffler AG

Francesco Starace

Co-Chair B20 Energy, Climate & Resource Efficiency Taskforce

CEO & General Manager Enel Group

Rudolf Staudigl

Chair B20 Small and Medium-sized Enterprises Cross-thematic Group

CEO & President Wacker Chemie AG

Rajeev Suri

Co-Chair B20 Digitalization Taskforce

CEO & President NOKIA

Diane Wang

Co-Chair B20 Small and Medium-sized Enterprises Cross-thematic Group

CEO DHgate.com

Axel Weber

Co-Chair B20 Financing Growth & Infrastructure Taskforce

Chairman of the Board of Directors UBS Group AG

Zhang Lei

Co-Chair B20 Employment & Education Taskforce

CEO Hillhouse Capital Management Ltd.

To download the Statement – click here

Source: B20 Germany