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G20-B20: Business Response to Global Economic Challenges
The U.S. Chamber of Commerce advances business interests in key dialogues with G20 policy makers. As G20 was elevated to coordinate policy action in dealing with the global economic crisis, the Chamber has been contributing to all private sector consultations with G20 at both national and international levels.
The Chamber’s actions are guided by the G20 Initiatives Working Group, which has conducted a wide range of in-depth discussions with key officials from G20 countries who are responsible for changing the rules of global finance and growth rebalancing. We are also engaged in providing business input to international institutions such as the International Monetary Fund (IMF), Financial Stability Board (FSB), and the International Organization of Securities Commissions (IOSCO).
What does G20 deal with now?
Deeper Crisis In Euro area
- Increased sovereign and bank stress in euro area
- Higher spreads and reduced credit from deleveraging
Oil & Food Market Risks
- Adverse oil shock given tight market conditions
Credit Booms in Emerging Markets
- Extended period of rapid credit growth
- Implications for asset quality, weaker growth environment
- Fiscal sustainability concerns (e.g., Japan, U.S.)
- Possible disruption to bond markets (“riskless” assets)
Global Business Coalition
To lead the business response to the policies agreed by heads of states at G20 level, the Chamber has become a founding member of the Global Business Coalition of national business federations from the top 20 economies.
Represent the interests of our national business communities in the G20 dialogue process and ensure decisions taken by G20 leaders reflect the input and understanding of the business community
The coalition brings together the leading national independent associations of selected G20 countries. We share the mission of representing broad business interests and views relevant to the G20 agenda, and agree to cooperate in sharing ideas; information and resources in order to promote agreed upon positions and inform members of our associations and the public opinion with respect to the policy views of the business community.
The Coalition ensures the continuity of dialogue with policy-makers between each Presidency of the B20/ G20 Business Summit.
Our partners in the Global Business Coalition:
- France: MEDEF
- Canada : Canadian Chamber of Commerce
- Germany: BDI
- EU: BusinessEurope
- South Africa: BUSA
- India: CII
- Korea: FKI
- Italy: Confindustria
- Spain: CEOE
- Turkey: TUSIAD
- Brazil: CNI
- Australia: AIG
- Argentina: UIA