The world economy needs 70 billion USD for development

​According to the journalist of Vietnam News Agency in Mexico, on June 17th, after the Conference of leaders of enterprises (B-20), which took place before the Summit of world leading developed and emerging market economy group (G-20) in Los Cabos, Mexico, Vice Chairman of International Chamber of Commerce (ICC), Harold McGraw said that for the period 2012-2016, the world needs 40% of 3000 billion USD to invest in infrastructures. In this spirit, Mr. McGraw insisted on establishing a fair regulation to make sure that the capital market operates effectively to promote development and employment. Continually issuing bonds in the capital market is the main supply source of the amount of money mentioned above, not financial organizations.

 

In the meantime, Secretary-General of Organization for Economic Coordination and Development (OECD), José Ángel Gurría Trevino stated that in order to contribute to economic stabilization, European nations must mobilize their potential internal ability to prevent the risks derived from banking sector and public debt. B-20 Summit took place for 1 day, before the Opening of G-20 Summit on June 18 th, focusing on the main topics of green growth, food security and infrastructure development, domestic capital mobilization, private investment, employment promotion, clear finance and the participation in development of the majority./.