Rice discusses the world economy

“Our administration, together with Congress and the private sector, is working very closely with other countries and, indeed, with the international financial institutions and authorities,” said Secretary of State Condoleezza Rice during a speech to the World Steel Association. that touched upon the global economy.

Rice outlined steps the Bush administration has taken to grant more countries access to world markets, including increasing engagement with developing economies, changing the major financial framework to better address economic growth, and signing free trade agreements with 17 countries. Rice also described the Bush administrations efforts to increase foreign aid.

“This administration, working with Congress, has launched the largest international development agenda since the Marshall Plan. We have doubled foreign assistance in the Americas, we have tripled it worldwide, we have quadrupled it in Africa.”

Rice conceded that globalization has brought some negative aspects, including transnational crime and weapons of mass destruction, but said that these concerns need to be met with responsible action and leadership rather than isolationism.

Rice said that education would be another vital aspect of strengthening both the local and global economy.

“It’s important to talk about education, and training, and retraining…education more than any other factor, is the indispensable requirement for every nation to build a confident, constructive, and sustainable engagement with the international system.”

Rice said that her commitment to education will be a major part of her post-Bush administration plans.

“Come January 20th, 2009, 12:01 to be exact, I will again be a private citizen. I know that I will go back to advocate too for a confident engagement with the international system based on the tremendous potential of each and every human being unleashed by the power of education.”