By Prof. Samitha Hettige

While global economic powers get ready for the G20 Leaders' Summit in Miami, USA, the global business community delivered a well spelled message at the B20 summit in Washington on the need to remove barriers & partnering with the private sector for stronger growth. The B20 USA Summit, held in Washington DC from November 9 to 11 (hosted by US Chamber of Commerce), was attended by more than 5000 delegates representing economies that account for approx. 85% of global GDP & 75% of global trade. 2026 theme was ‘Accelerating Global Growth’ & focused on; economic growth, innovation, trade & energy. B20 summit policy recommendations include;

1. Reducing regulatory barriers
2. Expanding technical education
3. Scaling AI adoption
4. Strengthening fiscal discipline
5. Modernizing global trade institutions &
6. Promoting predictable digital trade.

The choice to grow

The central message of B20 was clearly spelled by Suzanne Clark (President/CEO of US Chamber of Commerce & co chair of B20 USA). She differently defined growth as a responsibility to the next generation. Clark said ‘growth is an imperative & a choice’ while urging executives to work with governments to replace policy barriers with advance investment & partnerships (Ref. Media). World’s 2^nd largest economy China was a notable presence at the B20. China's participation was coordinated by the China Council for the Promotion of International Trade (CCPIT) which has organized Chinese companies to engage across the B20's four work streams (growth, innovation, trade & energy). B20 recommendations will move from Washington to the G20 table with a clear message…

‘Tools for faster growth already exist. What remains is the political will to clear the path’.

A development spell

Some non G20 countries may get the message spelled by B20 & act while others may not. Some countries who aren’t clear on the message may assume that slow growth is due to a ‘Spell’ (a period of bodily or mental distress or disorder – Webster). A ‘Spell’ can be; an indeterminate period of time, a continuous period of time or even a stretch of a specified type of weather (Ref. Cambridge). Some Sri Lankans may assume that bad weather is a ‘Spell’. The Chinese are aware that bad weather is inevitable & prevailing is the challenge. They didn’t believe in 77 year spells etc. & worked to prove that ‘No Mountain can block the Sun’. Sri Lankans have tools to grow & may focus on improving the political will.  

Author is an Academic & the Executive Director of the Zheng He Center in Colombo. 

Views expressed are personal. Photo Source: WWW