Published: June 07, 2012
Washington – Business Roundtable (BRT), an association of leading U.S. CEOs, today issued a report, “Promoting Economic Growth Through Smart Global IT Policy,” expressing concerns about the emerging threat posed by local data server requirements in several countries. The report takes issue with overbroad requirements that harm global business and consumer experiences.
Local data server requirements mandate the use of server infrastructure within the borders of a country, rather than allowing businesses flexibility to determine the most secure, reliable and economically effective locations for servers. Although there may be instances of genuine national security interests that merit a country’s requirement for certain data server activity to be within a country, such requirements should be narrowly applied in the least restrictive manner possible.
“The core issue is economic growth,” said Randall Stephenson, AT&T’s Chairman and CEO, and Chairman of Business Roundtable Global IT Policy Subcommittee. Further, Stephenson, speaking on behalf of the Subcommittee, said, “A globally networked economy dramatically improves the speed of commerce and drives prosperity around the world. Local data server requirements add extra steps and put these things at risk. So, it’s important to everyone’s economic future that they not become a systemic problem.”
The report is further evidence that new restrictions on global commerce are being devised and implemented by nations throughout the world. These new barriers that force the local conduct of strategic business activities include troublesome indigenous innovation requirements, which at times serve to protect local interests at the expense of international competition.
Among its recommendations to reverse the tide of local data server requirements, BRT called on the U.S. Government to:
By delving deeper into global IT policy, today’s issue paper builds upon Business Roundtable’s “Taking Action for America: A CEO Plan for Jobs and Economic Growth,” a comprehensive plan to put the United States back on the path of strong economic growth, released this March.
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Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with over $6 trillion in annual revenues and more than 14 million employees. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development – nearly half of all private U.S. R&D spending. Our companies pay $163 billion in dividends to shareholders and generate an estimated $420 billion in sales for small and medium-sized businesses annually.
BRT companies give nearly $9 billion a year in combined charitable contributions.