President talks global economy, says United States can “out-compete” any other nation

Following last week’s meetings with President Hu of China, President Obama opened his weekly remarks by discussing a new deal to increase exports to China by $45 billion. According to the President, the deal will increase China’s investment in the United States and support 235,000 American jobs. As noted in his address, the President has also met with leaders from South Korea and India in recent months to strike deals regarding the global market that seek to have an impact on jobs in the United States:

“That goal is why I fought so hard to negotiate a new and better trade deal with South Korea – a deal with unprecedented support from business and labor – that will supoort more than 70,000 American jobs. And that’s why I traveled to India last fall to help pave the way for $10 billion in new deals for American businesses and more than 50,000 new American jobs.”

The Global Economy was a subject of discussion at Friday’s visit to a General Electric plant in Schenectady, NY. It was during this meeting where the President introduced GE CEO Jeff Immelt to chair the Council on Jobs and Competitiveness:

In his weekly address, the President noted that the Council on Jobs and Competitiveness is tasked with growing jobs through investing in business in the United States. The goal, according to President Obama, is to find ways to increase hiring, educate workers to compete in the 21st century, and attract businesses from around the globe. President Obama made it clear that he believes the United States can “out-compete” other nations in the global market if the effort is there:

“We’re living in a new and challenging time, in which technology has made competition easier and fiercer than ever before. Countries around the world are upping their game and giving their workers and companies every advantage possible. That shouldn’t discourage us. Because I know we can win that competition. I know we can out-compete any other nation on Earth. We just have to make sure we’re doing everything we can to unlock the productivity of American workers, unleash the ingenuity of American businesses, and harness the dynamism of America’s economy.”

The President’s Weekly Address:

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