Incoming Secretary General of the International Chamber of Commerce John W.H. Denton AO has warned against inward policies and other distractions that could threaten global growth in 2018.
Speaking in an interview broadcast on Sky News Mr Denton told presenter Ian King that while “the sun is shining on the global economy” the challenge would now be to maintain momentum.
During the interview, which aired on the Ian King Show on Tuesday, Mr Denton also underscored the importance of digital technologies for sustained economic growth, and pointed to the World Trade Organization as the only organization that can “deliver up global norms to continue growth of digital platforms and access to e-commerce” which Mr Denton said was of particular importance to small- and medium-sized enterprises.
Responding to a question on current anti-globalisation sentiment, seen several Western economies, Mr Denton recognized some shortcomings in the system but stressed that the tone of the times need not be permanent.
“Some systemically important economies and not quite open economies need to do some reform,” he said.
Mr Denton was interviewed by Sky to provide a response on behalf of the world business organization to latest figures released by the International Monetary Fund that estimate global growth figures for 2018 to be at their strongest since 2011.
Watch the full interview here.