On Friday, October 14, U.S. Secretary of Commerce Pritzker participated in an armchair discussion at the Pacific Council on International Policy in Los Angeles. Interviewed by Los Angeles Times foreign desk editor Ann Simmons, Secretary Pritzker discussed the United States’ role in promoting global economic growth and prosperity and the Department of Commerce’s work to keep America “open for business.” Here are seven topics Secretary Pritzker highlighted during the discussion: 

1. Global Economic Outlook 

Global economic growth has been in the 2.5 - 3 percent range since 2012, and most forecasters project a similar performance during the next 12 months. Ongoing recovery in the Euro Area following the debt crisis is a bright spot, as are improving fundamentals in many of the emerging markets.

2. Trans-Pacific Partnership (TPP)

The Trans-Pacific Partnership (TPP) is important to the U.S. economy and its role as a global leader. By reducing trade barriers between the U.S. and some of the fastest-growing countries in the Asia-Pacific, TPP will support the growth of businesses of all sizes. 

3. Foreign Direct Investment (FDI)

Foreign Direct Investment makes the U.S. more prosperous, more innovative, and more competitive. Attracting foreign investment has been critical to America's economic recovery. The Department of Commerce runs SelectUSA, the program responsible for promoting foreign-direct investment in the U.S. Learn more about SelectUSA here:  https://www.selectusa.gov/welcome  

4. U.S./China Trade

Secretary Pritzker participates in 26th session of the U.S.-China Joint Commission on Commerce and Trade (JCCT) in Guangzhou, China. Source: U.S. Department of Commerce.

China is one of the United States’ largest trading partners and Chinese companies invest tens of billions of dollars in the U.S. economy every year. Given China’s role in the global economic system, it is critical that the U.S. and China have sustained, constructive engagement. 

5. Cybersecurity

The federal government cannot regulate cyber risk out of existence. The Commerce Department works directly with the private sector through the Framework for Improving Critical Infrastructure Cybersecurity, Cybersecurity Commission, and other fora to protect privacy, public safety, national security, and economic growth.

6. Refugee Resettlement

Secretary Pritzker speaks with George and Amal Clooney about how business and cultural leaders can help address the international refugee crisis following the President’s Call to Action Refugee Roundtable in New York. Source: U.S. Department of Commerce.

At the President’s Call to Action Refugee Roundtable — held in September in conjunction with the United Nations General Assembly in New York — business leaders developed solutions to address refugee education, employment, and enablement. Although the U.S. has contributed billions of dollars to aid displaced peoples and plans to welcome 85,000 refugees this year, the private sector has an essential role to play in addressing this global crisis. In that spirit, fifty-one companies have made commitments ranging from raising micro-loan capital to invest in refugee business entrepreneurs to leveraging resources to support education and empowerment opportunities for refugee youth.

7. Women and Corporate Leadership

Diversity in corporate leadership is an issue of economic competitiveness, and the presence of more women in the boardroom and in the corporate suite is critical to companies’ creativity, performance, and ability to thrive in the 21st century.