Who has the most influence on a sustainable economic recovery?
- Manufacturing industries 49%
- Government 25%
- Banking/Financial industry 15%
- Social Media 6%
- The media (papers/TV) 5%
Comment by John Peter Leesi, CEO and President, Luvata
We are living in times of "politician bashing". Everybody from the US President to a shop-floor worker in Europe expresses concerns about the ability of the political system and governments to do the right thing and for the right reasons.
The poll suggests that the manufacturing industries have the greater impact scoring 49%. In the eyes of the casual observer, one could expect people to think the banking industry has a bigger impact than the 15% seen here because, ultimately, sustainable economic recovery requires governments to provide reforms and a regulatory framework that makes it easier to start and conduct business.
Banks need to be properly funded and too much creativity in developing new financial products needs to be stopped. With the right reforms of the financial markets and labour markets, the manufacturing industry will have a good foundation to start the journey towards sustainable recovery and the positive spiral will start.
In the current situation, with the Eurozone crisis, the start of something good hinges upon the political systems working in a concerted effort across many countries to deliver the support and stability for the banking system. This, in return, will allow the manufacturing industry to become the driver of sustainable recovery.