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Business Community Calls on G8 to Avoid Economic Nationalism

G20 major economies 26%

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The G8 summit should resist pressures to resort to economic nationalism and should further strengthen international cooperation to meet the challenges posed by the global recession, climate change and product counterfeiting, the International Chamber of Commerce (ICC) urged Italian Prime Minister Silvio Berlusconi today. 

The Paris-based ICC is the largest, most representative private-sector association in the world, with hundreds of thousands of member companies in over 130 countries. The United States Council for International Business (USCIB), based in New York, serves as ICC's American national committee. 

"We stressed to the prime minister the importance of resisting protectionist pressures, which would only lead to a deeper and longer world recession," ICC Honorary Chairman Marcus Wallenberg said following the private session. 

"ith the world as economically integrated as it has become over recent decades, any lurch into economic nationalism would dislocate commercial activity even further," Mr. Wallenberg added.

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