Archive for May, 2010
Keynote address at the World Trade Week Kickoff Breakfast in Los Angeles, California May 3, 2010
I am delighted to help launch this 84th annual World Trade Week in Los Angeles, which is truly the “capital of the Pacific Rim” as last year’s keynote speaker suggested. I congratulate the ports of Los Angeles and Long Beach, the city of Los Angeles, and the state of California for their leadership in promoting an active and constructive trade policy in the United States.
Trade and World Economic Growth
The $1 trillion rescue of the eurozone, aimed at averting a spread of contagion from Greece, did nothing to help the Greeks address their underlying and unsustainable fiscal situation. Greece is insolvent and needs to lower its total debt burden before 2012.