They fear we are erecting barriers to their exports and their development. Free trade areas and bilateral agreements have sprung up around the world during the past decade. The United States should support these efforts because the more ways there are to open markets and expand trade, the better off we all are. Indeed, regional groupings reinforce our vision of linking the globe. The European community has 15 members and plans to expand further.
China has the world's fastest growing large economy.
Enormous change is occurring, and it is crucial that China join the WTO, participate in the global trading regime, and become more integrated into the international community. Consensus isn't easy when you have 137 members, but it's crucial if the WTO is to rebuild its credibility in the aftermath of Seattle. For now, we should let the marketplace sort out these activities. World economies are more integrated than ever before, thanks to the advances in electronic and communications technology. Our challenge is to convince the world that the power and stamina of the U.S. economy is primarily the result of the disciplines, incentives, and opportunities that free markets, protected by democracy, create.