The potential strength of people, factories and resources is not being fully employed. We are particularly concerned about the hardship unemployment creates. Each of us faces somewhat different economic situations. But we all would gain greatly from stronger, sustainable non-inflationary growth. Higher growth will help other countries, too.
Growth generates trade.
More trade will give a boost to developing nations and to the new democracies seeking to transform command economies into productive participants within the global marketplace. Their economic success is in our common interest. A successful Uruguay Round will be a significant contribution to the future of the world economy. An early conclusion of the negotiations will reinforce our economies, promote the process of reform in Eastern Europe and give new opportunities for the wellbeing of other nations, including in particular the developing countries. We regret the slow pace of the negotiations since we met in London last year.