Learning from the Financial Crisis: Governments and Businesses must work together and rebuilt Trust.
Tags: AER, Climate Change, cordoba, energy refer, EU, europe, farnel, France, ge, GE Energy, government, legislation, sabban
On October 7, 2010, Jeffrey Bartash, Journalist for MARKETWATCH reported that John Rice, vice chairman of GE (GE, US), said that Western governments were creating too many obstacles that prevent companies from innovating and creating jobs, adding that It was a known fact that barriers that slow down innovation need to disapear.
This is a reality that affect all economies today. The way of doing business has changed from before the world financial crisis. All unecessary barriers raise research costs, prolong regulatory approvals and prevent companies from hiring the best workers, among other things. As a consequence, those barriers should be amended in order to participate in the growth of the countries and regions
Given the shape of the world economies, both businesses and governments need to re-create an environment of Trust that they have lost through the crisis. They can only acheive that by working together as true partners.
The way of doing business has dramatically changed, and this is certainly one huge lesson from the Financial crisis.