Economic Summit of the Industrialized Nations
Secretary of State James Baker briefed reporters on the Economic Summit of the Industrialized Nations, to be held July 15-17 in London,… read more
Secretary of State James Baker briefed reporters on the Economic Summit of the Industrialized Nations, to be held July 15-17 in London, England. He said the goals of the summit are to create a sustained global economic recovery and price stability, to create unanimity for the completion of the Uruguay round of trade talks, and to discuss the economic reform of Eastern Europe. He said the Soviet Union would also be discussed in the summit, in terms of determining the best way to support democratic and economic reforms in the Soviet Union. Secretary Baker said the only plausible response by the Soviet Union would be to commit fully to a true free market economy with price incentives and other aspects of free markets. He listed a number of issues relating to the economic reforms of the Soviet Union that would be discussed in the summit, and said the economic reforms could not be viewed without a political context as well as an economic context. He responded to questions on U.S.-Soviet relations, aid to the Soviet Union, and other issues related to the summit. close
*The transcript for this program was compiled from uncorrected Closed Captioning.
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- James A. Baker III Secretary Department of State