NEWS

​

 

TOUS ENTRE-PRENEURS

VISIONNAIRES DU 21eme siècle

​

THOMAS DONOHUE

President and CEO of the U.S. Chamber of Commerce

 

 

Question : What is the outlook for the U.S. economy at the beginning of the XXIst century?

 

Thomas J. Donohue : Since the “Great Recession” officially ended in June 2009, the American economy has struggled to regain its footing. The recovery has been the slowest and weakest since World War II. The 21 million Americans who are unemployed, underemployed, or who have given up looking for work have paid a heavy price—and they still are. Middle class families have not seen decent increases in their real incomes for a long time. Overall growth for 2013 was 1.9%. We should do considerably better this year, with growth accelerating to near 3%. Our housing market is recovering and overall household wealth has now surpassed its pre-recession level. This has boosted consumption, which is leading to more business investment and some new hiring.

 

Question : What would help boost U.S. growth and what is the role of the new innovation models in supporting this growth?

 

Thomas J. Donohue : We need better public policies. The United States has more natural advantages than any other country, but we don’t always maximize those advantages. Let me give you two examples. First, we have more recoverable conventional oil and gas off our shores than the proven oil reserves of Europe and Asia combined—yet 87% of it remains off limits.

 

American technology and new drilling techniques have led to an American renaissance in energy. Yet the progress we’ve made so far has come about largely in spite of national policy rather than because of it—and all of it has happened on private lands. We need to thoughtfully open more federal lands onshore and offshore. And, we must remove and guard against unnecessary restrictions, delays, and regulations to the development of all forms of energy.

 

Second, America has an historic opportunity to cement its reputation as the world’s most welcoming society and attract the world’s best human talent. To achieve that, we must reform our broken immigration system. Why? Because throughout our history immigrants have brought innovation, ideas, investment, and dynamism to American enterprise. We are nation of immigrants and we need them to keep our country dynamic and prosperous.

 

Question: How important are entrepreneurs and innovation to economic growth? How could be encouraged this entrepreneurial attitude not only in the companies but in all our society considering the tendency for an hybridization of Tech Push and Market Pull strategies involving also clients, consumers in the innovation process based on collaborative work between different actors inspire their “asymmetries” (of risk, of culture and interest, of temporality of their objectives, etc.)?

 

Thomas J. Donohue : Vitally important. Again, this is an area where America has had an historic advantage and it’s one we must retain going forward. All of America’s major companies started out small, many in garages and basements. The ability to start and grow a business, fail, and try again is the secret ingredient to our country’s success. The millions of small businesses across the United States are the source for most of the innovations, products, and services that drive growth and improve our quality of life.

 

Unfortunately, our policymakers continue to make life difficult for these entrepreneurs. They are layering on needless regulations, to the tune of 4,000 new rules every year. They are making it more difficult to obtain capital and provide health insurance. And too often they denigrate business success. Our constant refrain is that government doesn’t create jobs, businesses do! In today’s globally interconnected and highly competitive economy, how important is the transatlantic relationship?

 

The transatlantic partnership has been the bedrock of global growth, stability, and security for more than half a century. The partnership is just as important now than it’s ever been. It’s the largest commercial relationship in the world—and one based on common values and ideals.

 

We have an opportunity to take that relationship to the next level and drive growth and jobs on both sides of the Atlantic by securing the Transatlantic Trade and Investment Partnership. The agreement would remove tariffs, facilitate the flow of transatlantic goods and services, and eliminate inefficiencies and added costs from differing regulatory regimes. If approved, in five years it would increase U.S. and EU exports by over $150 billion, make our economies some $250 billion bigger, and generate an additional 500,000 high-paying jobs. The United States is also pursuing a number of other trade and investment agreements that will fundamentally enhance our economic growth, including the Trans-Pacific Partnership, a bilateral investment treaty with China, and a Trade in Services Agreement involving more than 50 nations. During these difficult economic times, what is your attitude and advice to considering the growth opportunities in the XXIst century?

 

I’m optimistic. I can’t help it, I’m Irish! Speaking of my own country, I firmly believe if we embrace our tradition of free enterprise, innovation, and the ability to take a risk, our best days are still ahead.

Lire l'interview dans le livre: 

"Tous Entre-preneurs ! La croissante du 21eme siècle a l'heure entrepreneuriale". Editions L’Harmattan, Dr. Florin Paun, 2014