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Extension of this credit will enable the United Kingdom to avoid discriminatory trade arrangements of the type which destroyed freedom of trade during the 1930's. I consider the progress toward multilateral trade which will be achieved by this agreement to be in itself sufficient warrant for the credit.
The proposed loan to the United Kingdom, which I shall recommend to the Congress in a separate message, will contribute to easing the transition problem of one of our major partners in the war. It will enable the whole sterling area and other countries affiliated with it to resume trade on a multilateral basis.
Remittances, returning expatriates, thriving and networked Diasporas would do more to uplift the countries of origin than any amount of oft-misallocated multilateral aid. This cornucopian vision is threatened from numerous sides.
Communist managers always the quintessential rent-seekers were trained to wheedle politicians, lobby the state and cadge for subsidies and bailouts, rather than respond to market signals. As communism imploded, the involvement of the state in the economy and the resources it commanded contracted. Multilateral funds are tightly supervised.
We must continue to support those activities, bilateral and multilateral, which aim at improving food production especially in developing countries and assuring global food security. These measures are necessary to the maintenance of a stable and healthy world economy.
Third, we will strive to resolve pressing international economic problems, particularly energy and inflation, and continue to pursue our still larger objective of global economic growth through expanded trade and development assistance and through the preservation of an open multilateral trading system.
It recognizes further that the nuclear defense of the West is not a matter for the present nuclear powers alone that France will be such a power in the future and that ways must be found without increasing the hazards of nuclear diffusion, to increase the role of our other partners in planning, manning, and directing a truly multilateral nuclear force within an increasingly intimate NATO alliance.
The proposed loan to the United Kingdom, which I shall recommend to the Congress in a separate message, will contribute to easing the transition problem of one of our major partners in the war. It will enable the whole sterling area and other countries affiliated with it to resume trade on a multilateral basis.
From Government to the World The "World" here being multilateral institutions, foreign governments, foreign investors, foreign competitors and the economic players in general providing that they are outside the territory of the information disseminating Government. This is true even where commercial secrets are involved! Synergy based on openness seemed to have won over old habits.
It is also important to honor our international agreements for multilateral assistance by authorizing and appropriating funds for the International Financial Institutions.
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