2024 Meridian Summit: Collaborative Investment for Growth: Navigating a New Global Landscape 

In a world reshaped by crises—from the global pandemic to geopolitical tensions—countries are increasingly prioritizing strategic investments to promote resilience and sustainable growth. Complex challenges, such as climate change, economic uncertainty, and supply chain vulnerabilities, demand a collaborative approach that transcends national borders. Governments and private sectors are finding new ways to align their efforts, fostering innovation that not only addresses immediate issues but also paves the way for a sustainable future. 

In a two-part session moderated by Eric Gertler, Executive Chairman and CEO of U.S. News & World Report, speakers explored whether geopolitical and geoeconomic transformations are facilitating collaborative practices or disrupting the status quo. With insights from leaders across government and industry, the discussions highlighted the vital role of collaboration in driving innovation and achieving shared goals in an evolving global landscape.   

Key Takeaways 

In light of vulnerable supply chains and the urgent realities of climate change, governments are increasingly focused on derisking investments as a pathway to resilience. Jose Fernandez, Under Secretary of State for Economic Growth, Energy, and the Environment, highlighted the U.S. commitment of $52 billion through the bipartisan CHIPS and Science Act, which has already catalyzed nearly $400 billion in private investments since its passage. Initiatives like this provide crucial early funding that attracts greater long-term investments.  

In addition to investments in resilient infrastructure, expanding public-private partnerships will strengthen a more resilient global economy. Fernandez emphasized the importance of this approach, stating, "the proper role for government is to incentivize, to galvanize, and then to get out of the way.” With limited resources, governments can only lay the groundwork; ultimately, it is the private sector that must take the lead in driving growth and resilience. Ambassador of Iceland to the United States Svanhildur Hólm Valsdóttir echoed this sentiment, emphasizing that “[governments] can try to regulate [their] way out of everything, but nothing happens until you get the private sector on board.”  

The conversation highlighted that real progress hinges on fostering trust and collaboration among governments and businesses alike. As Hooman Shahidi, CEO and Founder of EVPassport, noted, “In order for [the private sector] to develop products and innovations, we have to collaborate based on the needs and resources that the government has, and the government needs to give us the leeway to do it.” Tackling global issues such as climate change requires unprecedented cooperation, creating pathways for private enterprises to innovate while aligning profit motives with societal impact. 

Though countries are working diligently to strengthen their domestic industries, multilateral cooperation likewise remains essential to maintaining peace and security. There was a clear consensus that while the challenges are daunting—ranging from cyber warfare to climate change to transnational terrorism—they also present opportunities for innovation and growth, provided that countries work together and take proactive steps to address these issues.  

Global alliances are increasingly moving from dependence to strategic independence. Many nations now avoid overreliance on single-country partnerships, particularly as they navigate complex trade landscapes. This shift underscores the necessity of balanced alliances, fostering innovation while mitigating risks associated with economic entanglements. As Ambassador Lui Tuck Yew of Singapore emphasized, “we are shifting from a paradigm of the past that was premised on fostering interdependence between nations to a new paradigm where you are avoiding overdependence”—achieved through diverse partnerships and moderated exchanges of ideas. 

Next Steps 

Sustainable growth in one country not only benefits that nation but also has positive ripple effects for its partners and allies. This interconnectedness underscores the importance of collaborative investment among governments, private enterprises, and research institutions to unlock the full potential of this growth. This includes building more adaptable systems, forging stronger international partnerships, and maintaining open channels of communication. Whether through trade agreements, defense cooperation, or environmental initiatives, the focus remains on aligning innovation and purpose to tackle shared global challenges. By pooling resources and expertise, stakeholders can drive forward the innovations needed to create sustainable solutions, ensuring that investments in technology and infrastructure contribute to a resilient, adaptable global future.