A central theme of the dialogue was that markets, like freedom, can only work within rules. A global framework of rules is essential if business is to operate to maximum effect in an integrated world economy, the better to invest, to raise living standards and to create jobs. The gathering ended with a call from ICC President Helmut Maucher, in the form of a Geneva Business Declaration, for business to keep its nerve in the current upheaval and not allow itself to be deflected from longer-term plans for investment and business development. This message was reflected in most sessions, whether on preventing financial meltdowns, the next hot issues for trade and investment, or the pitfalls confronting emerging economies. Speakers maintained that there could be no going back on globalization, that it offered immense opportunities for human progress, and that business and governments must cooperate closely in managing it.
Governments are the main rule-setters.
The Geneva Business Declaration said business had a clear responsibility during the current difficulties. We must not lose our nerve and embark on short-term actions. Our long-term policy must be maintained. He recommended business ventures in the problem-hit countries, pointing out that investment opportunities had never been so abundant. However, returns would be over the long-term.