World Chambers Congress calls for professional training

(AGI) Turin, June 10 - Protectionism, stemming from theeconomic and labour crises many advanced economies are stillfacing, demands a joint effort by both firms and governments;they must work together to attract investments in professionaltraining, so as to combat youth unemployment. Harold McGrawIII, president of the International Chamber of Commerce (ICC),was interviewed by AGI during the World Chambers Congresssession in Turin, Italy. McGraw said that in crisis the firstreaction is protectionism "because when things don't work,local governments want to take over control of the situation tosave their lives [...] Firms and

(AGI) Turin, June 10 - Protectionism, stemming from theeconomic and labour crises many advanced economies are stillfacing, demands a joint effort by both firms and governments;they must work together to attract investments in professionaltraining, so as to combat youth unemployment. Harold McGrawIII, president of the International Chamber of Commerce (ICC),was interviewed by AGI during the World Chambers Congresssession in Turin, Italy. McGraw said that in crisis the firstreaction is protectionism "because when things don't work,local governments want to take over control of the situation tosave their lives [...] Firms and governments must, therefore,work together on the best policies to encourageentrepreneurship and investments, focusing on fiscal andnormative issues." He added that the high youth unemploymentrate in many industrialised economies is linked to thetransition from manufacturing a services-based economy, whichtoday makes up a larger share in advanced countries, sinceautomated industrial processes mean some jobs are accomplishedat diminishing costs with less manpower. "Services are promptlydelivered, the skills required in this industrial sector changequickly, and this is why the G20 set as top priorities trainingand human capital," he said. "We must give young people thepossibility of finding their space at this time of transition,otherwise youth unemployment will keep on rising. Embracingchanges is always difficult and painful. When you shift to acompletely different economic system, there is usually slowergrowth, a rise in the unemployment rate and less prosperity.Firms must prove success in youth training," McGraw said,wrapping up. .