Saturday, January 22, 2011

Weekly Address: "We Can Out-Compete Any Other Nation"

WASHINGTON – President Obama used his weekly address to highlight the steps his administration is taking to make America more competitive. As a result of the deals made with China this week, U.S. exports to China will increase by more than $45 billion and China will increase its investments in America by several billion dollars. These deals will support some 235,000 American jobs. Also, the President named GE CEO Jeff Immelt to head up the new Council on Jobs and Competitiveness, which will help find ways to grow the economy by investing in American businesses.
Here’s the truth about today’s economy: If we’re serious about fighting for American jobs and American businesses, one of the most important things we can do is open up more markets to American goods around the world.

That’s why I met with China’s President Hu Jintao at the White House this past week. We’re now exporting more than $100 billion a year to China in goods and services. And as a result of deals we completed this week, we’ll be increasing U.S. exports to China by more than $45 billion, and China’s investments in America by several billion dollars.  Most important, these deals will support some 235,000 American jobs. And that includes a lot of manufacturing jobs.

Read the Transcript  |  Download Video: mp4 (125MB) | mp3 (3MB)
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