Global Trade Is Important Engine for Recovery

Reflecting on the ongoing debate of nationalization versus globalization in the margins of the recent meeting of European heads of state in Brussels, CEO DHL Express Europe, Scott Price, said: “Global trade is the engine for economic recovery and any move towards national protectionism creates the reverse. As a European industry we know that global trade is a job and growth facilitator and it is now more important than ever to underline this fact in order to encourage business, finance and not at last the European public to build up confidence again.”

He added that, “DHL Express fully supports the European heads of state in making the European Single Market the engine to recovery and that protectionism is no answer to the current crisis—the European market is a major trading partner for the big world economies like the US, China, Russia both in imports and exports. Europe accounts for 17% of the overall world trade and creates millions of jobs. Protectionism would have an adverse affect on this ranking.”

Price's comments exactly mirror the statements of UPS CEO Scott Davis, who recently told the US Chamber of Commerce, “Global trade is one of the most important tools we have to help lift us out of the financial crisis. . In fact, at the risk of over-simplifying, it may be the most important tool.” . Davis also warned against the dangers of protectionism impeding the process of recovery.