P&G warn on global protectionism

McDonald P&G.jpgP&G’s new CEO, Robert McDonald, has “warned of the risks to global growth posed by increased protectionism in the US and around the world, stemming from the global recession“.

interviewed by the Financial Times, McDonald noted that 20% of P&G’s jobs in the US depend on their international business, which accounts for 60% of P&G’s annual sales of $79bn. And he went on to argue that “it is short-sighted for the US government to think they can create jobs at home by hurting our ability to compete internationally.”

Interestingly, and in a positive sign for chemical industry recruitment, McDonald added that the downturn was changing the attitudes of potential recruits to P&G. He noted that “I’m finding from students that they want to live a life with meaning. Making products or marketing brands that improve people’s lives is more meaningful than being involved in a financial transaction that creates no value.”

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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