A Quote by Barack Obama

We have to make sure America writes the rules of the global economy, and we should do it today while our economy is in the position of global strength, because if we don't write the rules for trade around the world, guess what: China will.
We are in a global economy whether we like it or not. And we believe - I believe - that America should be at the table writing the rules of the global economy instead of China.
I`ve said this when I pass the trade promotion authority law, which allows us to get trade agreements. If we write the rules of the global economy, we will succeed in the 21st century. But we have to write those rules, we have to engage, and I think the president [Donald Trump] said Trans-Pacific Partnership is not the way to do it.
Our global institutional arrangements - the basic ground rules that govern our world economy - are human-made. They don't exist naturally, nor are they God-given. We make these rules, those of the WTO [World Trade Organization] Treaty for instance, which fill tens of thousands of pages. These words have been strung together by human beings and are also interpreted and enforced by human beings.
In the 'Nike Economy,' there are no standards, no borders and no rules. Clearly, the global economy isn't working for workers in China and Indonesia and Burma any more than it is for workers here in the United States.
If China sets the rules for much of the world's economy, America will feel the consequences in our pocketbooks as well as in our security.
Globalization makes our economy, our health, and our security all captive to events on the other side of the world. And no other nation on earth has a greater capacity to shape that global system, or to build consensus around a new set of international rules that expand the zones of freedom, personal safety, and economic well-being. Like it or not, if we want to make America more secure, we are going to have to help make the world more secure.
When I was in government, the South African economy was growing at 4.5% - 5%. But then came the global financial crisis of 2008/2009, and so the global economy shrunk. That hit South Africa very hard, because then the export markets shrunk, and that includes China, which has become one of the main trade partners with South Africa. Also, the slowdown in the Chinese economy affected South Africa. The result was that during that whole period, South Africa lost something like a million jobs because of external factors.
I think in our global economy, uncertainty is ever increasing. So to accommodate to that, we need to build a dynamic economy and dynamic rules that can adapt to changing circumstances.
To ensure that the free world continues to set the rules of the road in the global economy, America and its allies must work together to continue to be the world's centers of innovation and technological advancement.
Free trade, far from protectionism, is the path that we should take to make Latin America a thriving actor in the global economy.
For 60 years, since World War II, we have been trying to create a rules-based system, a global economic system. We understand that what makes our economy function is what we call the rule of law, and what is true domestically is also true internationally. It is important to have rules by which we govern our relations with other countries.
I think the economy in the US has surprised. The old adage is that if America sneezes, the rest of the world catches a cold. If the US economy does well, the global economy will do well.
The chief job of foreign policy today is helping to figure out the rules for the global economy and defending each nation's interests within it.
Part of the reason we're all committed to coordinated stimulus is we want to stimulate the global economy. We're in a global economy, not just our national economies.p
Over the longer run, advanced economy policy actions that strengthen global growth and global trade will benefit the EMEs as well.
President Nixon was a pragmatic strategist. He would engage, not contain, China, but he would also quietly set pieces into place for a fallback position should China not play according to the rules as a good global citizen.
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