Jose Angel Gurria Quotes
The OECD should promote everything that's consistent with its mandate, which is to make the world economy work better.
The most successful way of poor nations developing rapidly is to trade with rich nations.
Large financial companies insist on profits at regular intervals and predictability whereas the innovative companies do not do well trying to meet those conditions and spending their time with the large finance company. While large financial companies were important to finance companies on the latter part of the 20th century, it was the smaller finance companies who financed most of the very important start-ups. By the 21st century, companies like Google and Facebook, made their own public stock offerings bypassing the financial industry. Many other smaller companies were financed via crowd sourcing which also bypasses the financial industry. His point is that the large successful companies can get the funds the need for growth without large finance companies. Smaller firms and startups can (and do) obtain funds through small finance firms or direct private investment. The large finance companies not only inhibit innovative growth he warns but they become such a dominant and controlling force that the industry becomes too big to fail, and the failure of a single large finance company could destroy the entire country’s economy. It happened to Island when their largest bank failed, and to the United States in the Meltdown of 2008.
He was opposing the view of President Donald Trump that the United States needs trade protectionism in order to preserve and grow manufacturing jobs. Flake and the majority of the Contgress maintained that protectionism at best would lose more jobs and growth possiblities than it would save, and at worst could start a trade war that throws teh United States into a recession or even a depression.
José Ángel Gurría Treviño, also known as Ángel Gurría, is a Mexican economist and diplomat. Since 1 June 2006, he has been the Secretary-General of the Organisation for Economic Co-operation and Development (OECD).