Megatrends for Economic Growth Dow Corning Chairman Urges Focus on Addressing Megatrends as Path to U.S. Economic Growth
In her testimony before the U.S. senate's Committee on Commerce, Science, and Transportation Dow Corning chairman Dr. Stephanie A. Burns presented a policy framework focussed on adressing the world's megatrends to stimulate the economic growth in the U.S.
Washington D.C./USA – Dr. Burns outlined many of the manufacturing, legislative, regulatory and workforce-related factors that influence America’s ability to develop a thriving advanced manufacturing base. In her remarks she stressed that adressing global megatrends could increase exports, reduce trade deficits, and strengthen America’s competitiveness in a rapidly changing global marketplace thereby stimulating economic growth in the U.S.: “Innovative, flexible, strong, courageous and collaborative public-private partnerships can lead to a recovery that creates engaging, well-paying, worthwhile work for Americans, as well as exports that serve the increasing demand of our global neighbors for products that enhance their quality of life. We need to study the megatrends that will shape the world economy and humankind in the decades to come, and then unleash our innovators to find the products and solutions that will meet the needs and challenges they pose,” she said.
A member of the President’s Export Council, Dr. Burns used Dow Corning as an example of the role a vibrant manufacturer in America can play in satisfying the long-term trends that are shaping the world, such as energy scarcity and the need for clean and domestically-generated energy solutions, rapid urbanization of the developing world, and aging populations and the corresponding challenges related to the provision of health care: “We are seeing record growth, we are exporting, and we are creating jobs,” she said. “We have achieved that growth in part because we believe that you only can export what customers around the world want to buy — and, to sustain this growth, we know that we must not simply cater to the markets of today… we must also anticipate the shape and demands of the global marketplace of tomorrow.”
“I’m sure other companies are exploring these and other megatrends through the lenses of their competencies and business plans,” Dr. Burns continued. “And I am also sure that companies that play into—and not resist—these trends will be the jobs engines of the coming decades. If the United States is to maintain its global economic leadership it must strive to be home to these kinds of companies and industries…these innovators. To be sure, that means having a competitive corporate tax structure and regulatory regime, as well as incentives for investment in innovation and growth. But, it also means having smart, forward-looking policies that invite investment from manufacturers poised to meet changing global demand.”