It takes two in this case to tango. And that's why we've taken the lead in the United States since 1977 when I was President Carter's chief domestic adviser, and we drafted the Foreign Corrupt Practices Act. It's taken 20 years since then to get other industrial democracies to begin to criminalize their payments of bribery to developing countries for contracts. Now we have it. Second is privatization.
Privatization is also crucial, and it has to be done in the right way.
I know that there are worries about how to privatize critical functions in ways that achieve real and equitable results. Of course it has to be done properly, but the reasons to do it are overwhelming. It will spur change. It will bring in foreign investment that creates jobs. It will bring world-class management.