Trade is tool to fix global economy

Despite tough economic times including the eurozone crisis and slower growth from emerging economies, business leaders on Monday pressed the world's governments to focus on promoting trade and investment, which they say is the lifeblood of the global economy.

At a meeting billed as B20 - coinciding with a gathering of heads of state from the G20 industrialized and developing countries - more than 300 businesspeople began two days of discussion on issues including food and security, green growth, employment, and trade and investment. Their goal is to draft recommendations for the G20 to consider during the government leaders' meeting on Monday and Tuesday in the same Mexican resort of Los Cabos.

"What really counts at the end of the day is the real economy - that's people's jobs, how people consume, and global trade and investment," said Victor Fung, chairman of Hong Kong-based Li & Fung Group, which has subsidiaries engaged in trading, logistics, distribution and retailing.