One priority area where business can contribute its expertise is to make sure that the global financial system possesses the checks and balances needed to avert East Asia-style financial crises. Another is pursuing economic growth while protecting the environment. Others are trade liberalization, defence of intellectual property rights, the fight against corruption, modernization of customs procedures. The list is long. The dialogue is coming about not a moment too soon.
Globalization has the potential to bring immense benefits to the human race.
Hence the need for a framework of rules on investment, capital markets, competition policy and a host of other areas. Both governments and business have their responsibilities. The creation of small and medium sized businesses will be the most effective way of spreading genuine wealth as opposed to providing hand-outs. Rural infrastructure development, provision of basic health care and education will be essential too, but these are all primarily the responsibility of government. Finally, it remains for business to provide the enterprise, capital and inventiveness, and to forge the alliances and strike the deals that make the global marketplace a reality.