DETROIT, Feb. 6, 2007 - The Detroit Economic Club (DEC) was pleased to host Samuel DiPiazza, Jr., chief executive officer, PricewaterhouseCoopers, International Limited. His topic, "Wishful Thinking? Global CEOs Predict Boom Times," addressed regulation, energy and "war" for talent concerns, which fail to temper record confidence displayed by 1,100 CEOs from 50 countries in the newly-released PwC 10th Annual Global CEO Survey. The theme of the survey is "balancing the global equation," which examines the shift that has occurred in the relationship between companies in the mature economies and those from rapidly developing economies.

Why are CEO's showing such optimism? The survey indicates they are anticipating growth through improved market penetration and expansion beyond China and India, and demonstrating a renewed appetite for cross-border M&A.

"It’s this enormous shift that’s going on between developing and emerging countries, and the changing nature of value chains in all of our businesses. Ten years ago it was a lot simpler than it is today – this enormous level of global liquidity that’s out there today influenced a lot of the people that we talked to. The sources of private equity, the low-debt interest rates, robust capital markets, all mean that there is opportunity."

Download a broadcast-quality audio file of the above selection from DiPiazza's remarks. Size: 705 Kb. Duration: 30 seconds.

DiPiazza examined how these growth strategies differ by region, size and industry, and discussed the implications for U.S. business leaders.

"We see a lot of activity in the mergers and acquisitions space. But the difference today is that we’re seeing more and more and more of the buyers coming from the emerging markets. Not just from China, but from Mexico, and Brazil, and from South Africa, and from Russia. So the landscape has shifted. Not dominant yet, still emerging – but frankly if the U.S. and the European Union CEO’s don’t understand what’s happening, they’re going to be losers in that space."

Download a broadcast-quality audio file of the above selection from DiPiazzas remarks. Size: 789 Kb. Duration: 34 seconds.

Click here to download a print-quality photograph of Samuel DiPiazza at the Detroit Economic Club on February 6, 2007. Photo credit: Jeff Kowalsky.

The Detroit Economic Club was formed in 1934 as a platform for the discussion and debate of important business, government and social issues. It is known internationally as a top speaking forum for prominent business and government leaders, who address members and their guests at the Club's 35 meetings a season. With more than 3,000 members, the DEC is about vital issues, prominent voices, a commitment to education and inspiring leadership. The Club is proud to have hosted every sitting U.S. President since Richard Nixon and proud to have been ranked among the top speaking platforms for CEOs.