GOOD AFTERNOON, CHAIRMAN, MEMBERS OF THE BOARD OF DIRECTORS, AND LADIES AND GENTLEMEN. MY NAME IS JENEANE. I AM THE FOUNDER AND THE CO-OWNER OF MISS JENNY'S PICKLES TO READ OUR HEADQUARTERS ARE LOCATED IN CORNERS ALL NORTH CAROLINA. I AM SO HONORED AND SO GRATEFUL TO BE INTRODUCING VICE PRESIDENT JOE BIDEN, OUR KEYNOTE SPEAKER. BUT BEFORE I DO I WOULD LIKE TO SHARE OUR STORY. MISS JENNY'S PICKLES WAS BORN AFTER OUR BUSINESS PARTNER AND I WERE LAID OFF DURING THE RECESSION. WE TOOK A FAMILY RECIPE, AND WE START OUR OWN COMPANY. IN THE BEGINNING WE GREW OUR OWN CUCUMBERS AND WE JARRED EVERY JAR. OUR PARTNERSHIP WAS FORMED WITH A LOCAL YMCA TO USE THEIR KITCHEN. WE KNOCKED ON DOORS FOR THE STORES TO CARRY OUR PICKLES AND WE WERE IN 50 STORES BY 2010. BY THE END OF 2011, WE WERE CARRIED INTO HUNDRED STORES, AND BY THE END OF 2012, WE ARE NOW IN OVER 900 STORES. [APPLAUSE]... PFFT. KNOWING THAT NOT ONLY 95% OF THE WORLD'S POPULATION LIVES OUTSIDE OF THE UNITED STATES. [LAUGHTER] >> I WAS JUST TELLING THEM TO SIT DOWN. >> YES, PLEASE SIT DOWN. I FORGOT TO TELL THEM. ...

BIDEN. [APPLAUSE] >> TELLING JENNIE BACKSTAGE A LOT OF YOU KNOW MY HOME STATE OF DELAWARE FOR THE CHEMICAL AND THE BANKING INDUSTRY BUT I REMEMBER THE SINGLE BIGGEST INDUSTRY BACK IN DELAWARE IS AGRICULTURE AND PICKLES ARE A PART OF THAT AND HIS EMPLOYEES A WHOLE LOT OF PEOPLE AND GENERATES A LOT OF BALANCE AND SERVED -- SURPLUS. I KID WITH PEOPLE WHO DON'T KNOW MUCH ABOUT FARM ECONOMY AND I WOULD CHALLENGE YOU THIS. YOU CAN GO TO ANY -- THIS IS OBVIOUSLY AN AD LIVE HERE, BUT IF YOU GO TO ANY OF THE MAJOR CITIES IN AMERICA, WALKED INTO A FANCY RESTAURANT AND TALK ABOUT FOREIGN POLICY WITH THE FOLKS IN THAT RESTAURANT, I WILL TAKE YOU TO THE DINER IN SOUTHERN DELAWARE OUT IN THE MIDDLE AND YOU SIT DOWN WITH A BUNCH OF FARMERS AND THEY CAN TALK FOREIGN POLICY LITERALLY. THEY KNOW MORE ABOUT WHAT IS GOING ON BECAUSE THEY KNOW THE FOLKS THAT WANT TO SETTLE OVER THERE AND THAT IS WHAT YOU ALL ARE ABOUT. I ESPECIALLY WANT TO START BY THANKING FRED. HE HAS DONE INCREDIBLY IMPORTANT WORK AND WE OWE HIM A GREAT DEAL. FRED, WE OWE YOU A GREAT DEAL OF HELP FOR WHAT YOU HAVE DONE TO BOOST AMERICAN EXPORTS. BUT EVERY SINGLE JOB THAT YOU HAVE EVER TAKEN, YOU HAVE DONE EXTREMELY WELL. AND I WANT YOU TO KNOW AND I MEAN THIS SERIOUSLY AND PERSONALLY AND ON BEHALF OF THE PRESIDENT WE APPRECIATE YOUR DEDICATION MORE THAN YOU KNOW. AND SO IT IS AN HONOR ALSO TO BE WITH THE REST OF YOU THIS AFTERNOON TO HAVE A CHANCE TO SPEAK WITH SO... MANY PEOPLE ON THE FRONT LINES OF OUR ECONOMIC RENEWAL. I A UNDERSTAND PROBABLY BETTER THAN ALMOST ANYONE CAN YOU UNDERSTAND ALMOST BETTER THAN ANYONE THE SHEER POTENTIAL THAT THIS GLOBAL ECONOMY OF WORDS TO THE UNITED STATES OF AMERICA CAN YOU ARE WELL AWARE OF THE CHALLENGES AS WELL TO GET THIS IS A FAMILIAR STORY. IN THE POST WAR, POST WORLD WAR ERA WE FACED A DIFFERENT SET OF CHALLENGES IN THE GLOBAL ECONOMY REEMERGED IN THE STRUCTURES OF THE WAR AND WE KNEW THE INSTITUTIONS WERE NEEDED TO NAVIGATE THROUGH THIS NEW WORLD ORDER. AND BECAUSE OUR PARENTS AND GRANDPARENTS WERE WHY IS AND BECAUSE THEY WERE COMMITTED, WE DID WHAT WE'VE ALWAYS DONE BEST. WE EXERCISED OUR GLOBAL LEADERSHIP. WE WERE DRIVING BEHIND THE CREATION OF THE WORLD BANK, THE INTERNATIONAL MONETARY FUND OF ALLOWS THE WORLD TRADE ORGANIZATION, THE ARCHITECTURE FOR THE GLOBAL ECONOMIC SYSTEM. OUR COMPANIES AND FINANCIAL INSTITUTIONS FROM THAT PERIOD THROUGH THE MID 80'S AND 90'S WERE INSTRUMENTAL IN ESTABLISHING THE STANDARDS FOR THE CORPORATE RESPONSIBILITY AND TRANSPARENCY IN GOVERNANCE. DEFINING THE NORMS THAT SHAPE THE GOOD BUSINESS PRACTICES IN AN INCREASINGLY GLOBAL ECONOMY. AND THANKS TO ALL OF YOU PARTICIPATING IN THAT GLOBAL ECONOMY, YOU WILL KNOW BETTER THAN MOST THAT THIS IS SELF EVIDENT, AND WHILE MANY AMERICANS, TOO MANY AMERICANS TO THOSE INSTITUTIONS IN THE NORM SEEM TO BE ABSTRACT BUT NOT TO ALL OF YOU, THEY HAVE HELPED TO GROW THE MOST SUCCESSFUL MIDDLE CLASS IN THE WORLD TO LEAD THE EXPANSION AND SHARE PROSPERITY IN THE UNITED STATES AND THROUGHOUT THE WORLD. WE DIDN'T JUST STUMBLE UPON OUR ECONOMIC DESTINY. WE SHAKE IT. WE SHAKE OUR ECONOMIC DESTINY. AND NOW WE HAVE TO RESHAPE IT. IT'S A DIFFERENT FAULT. MY COLLEAGUES ARE ALWAYS KIDDING ME AND FRED HEARD ME SAY THIS QUOTING THE AVERAGE POETS' ALL THE TIME I THINK I DO IT BECAUSE I'M IRISH. I DON'T, I DO IT BECAUSE THEY ARE THE BEST POETS. [LAUGHTER] AND THERE IS A POEM YATES WROTE AFTER THE FIRST RISING, THAT IS THE IRISH CATHOLIC CALLED THE LAST TIME WE TRIED TO GET RID OF THE BRIDGES. BUT THEY DECIDED TO WRITE A POEM CALLED EASTER SUNDAY, 1916 AND HE HAS A LINE IN THERE THAT I THINK A BETTER DESCRIBES THE WORLD TODAY THAN IT DESCRIBED HIS IRELAND AND EASTER SUNDAY 1960. HE SAID ALL HAS CHANGED TO READ A TERRIBLE BEAUTY HAS BEEN BORN. ALL HAS CHANGED. IN THE LAST DECADE ALL HAS CHANGED IN TERMS OF THE GLOBAL ECONOMY AND IN TERMS OF THE RULES OF THE ROAD AND THE LACK OF THE ROLES IN THE ROAD. THEY TRIED TO FIGURE OUT WHERE WE SIT WITH THEM AND SO ON, AND SO THESE INSTITUTIONS THAT THE AFFIRMATIVE TASK WE HAVE NOW IS TO ACTUALLY CREATE A NEW WORLD ORDER BECAUSE THE GLOBAL ORDER IS CHANGING AGAIN. AND THE INSTITUTION IS OF ROLE THAT WORKS SO WELL IN THE POST-WORLD WAR TWO ERA FOR DECADES THAT THE NEED TO BE STRENGTHENED. AND SOME HAVE TO BE CHANGED. SO, WE HAVE TO DO WHAT WE DO BEST. WE HAVE TO LEAD TO THE WE HAVE TO LEAVE. WE HAVE TO UPDATE THE GLOBAL RULES OF THE ROAD AND WE HAVE TO DO IT IN A WAY THAT MAXIMIZES BENEFITS FOR EVERYONE BECAUSE OBVIOUSLY IT IS OVERWHELMINGLY IN OUR INTEREST. THIS ISN'T A ZERO SUM GAME IT IS OVERWHELMING OUR INTERESTS THAT CHINA PROSPER, THAT MONGOLIA PROSPER, THAT THE NATION'S BIG AND LARGE, EAST AND WEST, IN LATIN AMERICA AND IN AFRICA PROSPER BECAUSE THAT OLD EXPRESSION THEY ASK WHY ROB OF BANK AND HE SAID THAT'S WHERE THE MONEY IS. [LAUGHTER] WE WANT EVERYBODY TO HAVE A LITTLE MONEY. TO MAKE SURE THEY CAN BUY AMERICAN PRODUCTS. SO, THE PARADOX -- [APPLAUSE] THE PRESIDENT AND I, WE DON'T VIEW ECONOMIC GROWTH AS A ZERO SUM GAME AS SOMEHOW WE GROW AND IT'S IN THE INTEREST OF OTHER MAJOR POWERS TO GROW AS WELL. THAT IS THE PARADOX OF THE NEW GLOBAL ORDER. SO MUCH OF OUR SUCCESS DEPENDS UPON THE SUCCESS OF THOSE WITH WHOM WE COMPETE. THAT IS A CHALLENGE THE PRESIDENT AND I AND THE ENTIRE ADMINISTRATION TAKE VERY SERIOUSLY IT'S BEEN IN THE CENTER OF OUR ECONOMIC PHILOSOPHY FROM THE DAY WE TOOK OFFICE. FROM OUR PERSPECTIVE THERE ARE TWO THINGS WE MUST DO ABROAD TO ENSURE OUR STRENGTH AT HOME. FIRST WE HAVE TO REORIENT OUR FOCUS NOT JUST WORDS THE GREATEST THREATS BUT THE GREATEST OPPORTUNITIES THAT EXIST FOR US. SECOND, WE HAVE TO LEVEL THE PLAYING FIELD THAT THE OLD PHRASE IS ALMOST OVER USED OVER THE LAST 20 YEARS BUT IT'S TRUE. WE HAVE TO LEVEL THE PLAYING FIELD SO THE AMERICAN COMPANIES AND WORKERS CAN COMPETE IN THE WORLD THAT THE COMPETITION IS FAIR AND IT'S HEALTHY. TO THE FIRST POINT, WE CAME INTO OFFICE FACING THE WORST FINANCIAL RECESSION SINCE THE GREAT DEPRESSION. WE HAD TO UNFREEZE THE CREDIT MARKETS BEFORE THE FINANCIAL SYSTEM AND INJECT DEMAND BACK INTO THE ECONOMY AND WHILE THE AGENDA IS FAR FROM COMPLETE WE'VE MADE SIGNIFICANT PROGRESS WITH ALL OF YOUR HELP. .. >> ...

ON SUSTAINABLE ECONOMIC GROWTH, BUT THERE'S SO MUCH MORE WE HAVE TO DO. IN THE SECOND TERM, THE PRESIDENT AND I BELIEVE WE HAVE TO TAKE UP THE TASK OF UPDATING THE INTERNATIONAL ECONOMIC ARK ARCHITECTURE THAT MUST SERVE AS FOUNDATION FOR LONG TERM AMERICAN ECONOMIC GROWTH. THAT'S ONE OF THE REASONS WE DEDICATED SO MUCH ATTENTION TO ASIA. WE'RE PROUD OF THE ROLE WE PLAYED FOR DECADES ENSURING STABILITY AND SECURITY IN THE ASIA PACIFIC REGION. I HAD A NUMBER OF THE LONG MEETINGS OVER A PERIOD OF TEN DAYS AND FIVE IN CHINA, FIVE HERE WITH THE PRESIDENT BECAUSE PRESIDENT WU AND PRESIDENT OBAMA WANT ONE OF US TO ESTABLISH A RELATIONSHIP. IT WAS -- IT WAS FASCINATING. THEY ASKED ABOUT HOW WE VIEWED OURSELVES. WE ARE A PACIFIC POWER. WE ARE A PACIFIC POWER. WE WILL REMAIN A PA CIVIC POWER. HE AND OTHERS ACKNOWLEDGED THAT THE REASON OUR... PRESENCE, OUR INFLUENCE IN THE REGION SINCE WORLD WAR II IS ONE OF THE REASONS WHY CHINA HAS BEEN ABLE TO -- BEEN ABLE TO EXPAND IN ECONOMIC GROWTH IN TERMS OF CONDITIONS AND STABILITY. THE WORLD'S ECONOMIC ENGINE SHIFTED EASTWARD, AND WE KNOW IT'S IN ASIA WHERE THE OPPORTUNITY OF THE 21ST CENTURY ARE FOUND. ASIA ACCOUNTS FOR ONE-QUARTER OF THE GLOBAL GDP. OVER FIVE YEARS, ASIA PACIFIC MAY ACCOUNT FOR AS MUCH AS 60% OF GLOBAL GROWTH, AND THAT'S WHY THROUGH THE EFFORTS LIKE THE TRANSPACIFIC PARTNERSHIP, OUR WORK IN APEC, OUR STRATEGIC AND ECONOMIC DIALOGUES OF THE CHINESE, INDIANS ISSUE AND OTHER, AND OUR ENHANCED ENGAGEMENT IN SOUTHEAST ASIA, WE'RE CONTINUING TO ASSERT OURSELVES AS A RESIDENT ECONOMIC POWER IN THE REGION. THINK ABOUT THE OPPORTUNITY THAT THE TRANSPACIFIC PARTNERSHIP ALONE REMITS, 11 MEMBERS COMPRISING 168 MILLION WITH COMBINED ECONOMIC OUTPUT OF 65 TRILLION DOLLARS A YEAR. WE'VE WORKED TO FORGE AN AGREEMENT THAT BRINGS TOGETHER ECONOMIES FROM ACROSS THE PACIFIC, DEVELOPMENT AND DEVELOPING -- DEVELOPED AND DEVELOPING ALIKE. THE TRANSPACIFIC PARTNERSHIP IS PERHAPS THE MOST AMBITIOUS TRADE NEGOTIATION UNDERWAY IN THE WORLD. IT WILL BREAK NEW GROUND ON IMPORTANT ISSUES FROM THE CHALLENGES OF STATE OWNED ENTERPRISES TO ENSURING THE FREE FLOW OF DA TO ACROSS BORDERS, ENHANCING SUPPLY CHAINS, ENSURING TRANSPARENCY AND CUTTING RED TAPE AND WORK TO STRENGTHEN PROTECTIONS FOR LABOR AND THE ENVIRONMENT. THE TRANSPACIFIC PARTNERSHIP IS OPEN TO COUNTRIES WILLING TO MEET OUR AMBITIONS. SINCE WE STARTED NEGOTIATIONS, VIETNAM, MALAYSIA, MEXICO, CANADA, ALL JOINED. WE CONTINUE TO WELCOME OTHER COUNTRIES, THE INTEREST OF OTHER COUNTRIESING INNING JAPAN. THAT WAS A -- COUNTRIES INCLUDING JAPAN. THAT WAS A CONVERSATION WHEN THE PRESIDENT WAS HERE. OUR GOAL IS FOR HIGH STANDARDS FOR THE TRANSPACIFIC PARTNERSHIP TO ENTER THE BLOODSTREAM OF THE GLOBAL SYSTEM AND IMPROVE RULES AND NORMS AND AFFECTS CONDUCT IN THOSE COUNTRIES AS WELL. AS THE PRESIDENT AND OTHERS, THE TRANSPACIFIC PARTNERSHIP LEADERS STATED WE INTEND TO CONCLUDE NEGOTIATIONS THIS YEAR. OUR ECONOMIC ENGAGEMENT WITH EUROPE, BY THE WAY, IS NO LESS AMBITIOUS. WE BUILD A SPECIALLY DEEP AND ROBUST SECURITY INSTITUTIONS THAT SPAN THE ATLANTIC, AND NOW IT'S TIME FOR THE COOPERATION TO CATCH UP AND SINK DEEPER ROOTS BECAUSE THE TRUTH IS THE UNITED STATES AND THE EUROPEAN UNION ARE EACH OTHER'S MOST IMPORTANT TRADING PARTNERS AND WILL REMAIN SO. THE U.S. COMMERCIAL RELATIONSHIP TODAY EXCEEDS $5 TRILLION, FAR AAWAY THE WORLD'S LARGEST, BUT WE KNOW, WE KNOW, YOU KNOW, WE CAN DO MORE. THAT'S WHY WE HAVE BEEN ON NEGOTIATIONS ON THE TRADE VINESTMENT PARTNERSHIP. THIS IS A BIG OPPORTUNITY. A NEW PARTNERSHIP TO BUILD ON WHAT'S ALREADY THE LEADING EXPORT MARKET SUPPORTING MORE THAN AN ESTIMATED 2. 4 MILLION WAY PAYING AMERICAN JOBS, BUT THIS IS NOT PURELY ABOUT BASIC ECONOMIC GAIN. IT'S ABOUT THE POSSIBILITY TO DRIVE PROGRESS TOGETHER ON SHARED PRIORITIES. THAT'S WHY WE HAVE AN AMBITIOUS AGENDA TO TACKLE COSTLY, COLTED BEHIND THE BORDER BARRIERS TO THE FLOW OF GOODS AND SERVICES, IMPROVE TRANSPARENCY, AND DEVELOP RULES AND PRINCE. S TO IMPROVE GLOBAL COMPETITIVENESS. AGAIN, I'LL SAY IT, WHEN I WAS IN CHINA SPEAKING TO THE GREAT HALL OF THE PEOPLE AND TALKED ABOUT OUR ECONOMY, I MADE IT CLEAR WHEN I WAS RECENTLY IN GERMANY WITH THE CHANCELLOR, IN PARIS WITH THE PRESIDENT, IN ENGLAND WITH THE PRIME MINISTER. WE, AMERICANS, WE WELCOME COMPETITION. IT'S STAINED INTO OUR DNA. IT IS NOT A PROBLEM. IT IS NOT A PROBLEM. PERIOD. THAT IS THE POINT WITH REGARD TO BOTH THESE -- BOTH OF THE TRADE AGREEMENTS. WE'RE TALKING -- WHAT WE'RE TALKING ABOUT IS SHAPING A NEW STANDARD THAT CAN BECOME THE MET TRICK BY WHICH ALL ARE MEASURED. THAT'S THE FIRST PART OF THE QUESTION. THE SECOND IS SOMETHING I KNOW THIS AUDIENCE UNDERSTANDS WELL. I DON'T HAVE TO TELL YOU -- I STATED IT ABOUT COMPETITION. YOU'RE OUT THERE FIGHTING EVERY SINGLE DAY. YOU KNOW. YOU KNOW THAT COMPETITION PUSHES OUR COMPANIES AND OUR PEOPLE TO PERFORM BETTER, GENUINE COMPETITION. AMERICA WELCOMES IT. I SAID IT'S STITCHED INTO THE FABRIC OF OUR SOCIETY, OUR ECONOMIC SYSTEM, AND THE BENEFITS OF HEALTHY COMPETITION REQUIRE, THOUGH, A LEVEL PLAYING FIELD OR AT LEAST CLOSE SIMILARITIES TO A PLAYING FIELD. WE EVEN WIN WHEN THE FIELD IS NOT QUITE LEVEL, BUT LITERALLY, I MEAN, THIS SINCERELY, THIS IS NOT HYPERBOLE. WHEN THE FIELD IS LEVEL, AMERICAN WORKERS, THE AMERICAN CAPITALIST SYSTEM, THE AMERICAN MARKET SYSTEM, THE AMERICAN INGENUITY CAN AND DOES COMPETE WITH ANYONE IN THE WORLD ON ANY LEVEL. [APPLAUSE] I HAVE OVERWHELMING CONFIDENCE ON THE COMPETITIVE CAPACITY OF THE AMERICAN WORKER. THEY ARE THE MOST PRODUCTIVE WORKERS IN THE WORLD TODAY. WE WILL NOT FULLY REALIZE OUR POTENTIAL IF THE GAME IS RIGGED AND THIS -- AND THERE'S A LOT OF RIGGING GOING ON RIGHT NOW. THAT'S WHY WE'RE TROUBLED BY STATE OWNED SO-CALLED NATIONAL CHAMPION COMPETITORS THAT ENJOY SUB SIGH SUBSIDIZED FINANCING, CHEAP INPUTS ARTIFICIALLY INFLATING BY CON STRICTING FOREIGN INVESTMENTS OR TRADE DESIGNED TO INDEUCE AMERICAN COMPANIES TO TRANSFER THEIR TECHNOLOGY, THEIR MANUFACTURING AS A CONDITION OF MARKET ACCESS, BY PROCUREMENT RULES THAT INFAIRLY KEEP AMERICAN COMPANIES FROM THE CHANCE TO COMPETE, AND BY GOVERNMENT THAT STEAL OUR INTELLECTUAL PROPERTY TO BENEFIT FAVORED COMPANIES INCREASINGLY. INCREASINGLY. WE'RE SEEING WHOLESALE THEFT OF CONFIDENTIAL BUSINESS INFORMATION AND PROPRIORTARY TECHNOLOGY THROUGH CYBER INTRUSION. THAT HAS TO STOP. IT HAS TO STOP. AS I POINT OUT WHEN I TRAVEL IN OTHER COUNTRY, AND I'VE TRAVELED ABOUT 700,000 MILES WORTH OF OTHER COUNTRIES IN THE LAST FOUR AND A HALF YEARS, I REALLY MEAN THIS THAT WHEN I TALK TO LEADERS OF OTHER COUNTRIES ABOUT THE THEFT OF INTELLECTUAL PROPERTY AND TALK TO THEM ABOUT THE ISSUES, I POINT OUT THAT THEY ARE DENYING THEIR OWN PEOPLE THE PROMISE OF BEING ABLE TO BECOME MORE COMPETITIVE BECAUSE INDIGENOUS CAPACITY TO GROW CREATIVELY IS STIFLED WHEN THEY ENGAGE IN THE THEFT OF INTELLECTUAL PROPERTY. THESE ARE SERIOUS CHALLENGES. IN MANY WAY, THEY ARE GROWING CHALLENGES. WE'RE TAKING THEM ON EACH IN TURN, ENFORCING TRADE RULES ON THE BOOKS, BRINGING IN A RECORD NUMBER OF CASES TO THE WTO, NEW RULES AND STANDARDS FOR GLOBAL TRADE, AND WORKING TO STRENGTHEN GLOBAL GROWTH AND GLOBAL FINANCIAL SYSTEMS FIGGING FOR AMERICAN COMPANIES. I MAKE NO APOLOGY WHEN I TRAVEL ABROAD TO MAKE THE CASE FOR AMERICAN COMPANIES, NO POLICY, PART OF OUR OBLIGATION IS, IN A SENSE, TO BE AN EXTENDED CHAMBER OF COMMERCE TO ENSURE AMERICAN COMPANIES GET AN EVEN SHOT, THAT PART OF OUR RESPONSIBILITY IN OUR VIEW. WE'RE FIGHTING FOR AMERICAN COMPANIES DOING THE HARD GRIPPING DAILY WORK OF ECONOMIC DIPLOMACY. THESE EFFORTS, LARGE AND SMALL, ARE OUTSIDE THE PUBLIC EYE, BUT THEY PAY OFF. JUST IN THE LAST FEW DAYS, THE USDA OPENED TAIWAN $8 MILLION TRESH POTATO MARKET TO THE COLORADO FARMERS. THE COMMERCE DEPARTMENT INCREASES TRADE WITH MONGOLIA WITH U.S. EXPORTS GROWING MORE THAN 150% IN FOUR YEARS. THE DIALOGUE WHERE THE UNITED ARAB EMIRATES BUILDS ON OUR $20 BILLION EXPORTS LAST YEAR. WE'VE CELEBRATED XM'S RECORD BREAKING DEAL THIS YEAR OF $5 BILLION LOAN TO SUPPORT MORE THAN 1 -- EXCUSE ME, MORE THAN 18,000 AMERICAN JOBS. THESE EFFORTS INVOLVE EVERYONE FROM THE PRESIDENT ON DOWN. LAST YEAR, I SAT HAMMERING OUT DEALS TO OPEN CHINA EASE AUTO INSURANCE MARKET AND THE QUOTA THAT UNFAIRLY LIMITS CHINESE IMPORTS OF AMERICAN MOVIES WORTH HUNDREDS OF MILLIONS OF DOLLARS. YOU ASK THEM TO PLAY ON THE WORLD STAGE, YOU HAVE TO PLAY BY THE RULES. YOU KNOW, AS I SAID, I TRAVELED THE WORLD FOR THE PRESIDENT OVER FOUR YEARS, AND EVERYWHERE I GO, I, ALONG WITH EVERYONE ELSE FIGHT FOR AMERICA'S ECONOMIC INTERESTS. IN A WAY, CHINA AND RUSSIA MADE THE CASE AS MENTIONED BEFORE THAT A PLAYING FIELD IS IN THEIR INTEREST TO DEVELOP THEIR ECONOMIES AND THEIR COUNTRIES. AN OPEN, FREE, TRANSPARENT, AND FAIR AS WELL. WHEN COUNTRIES STICK TO THE RULES OF THE ROAD, GLOBALLY, THEY TEND TO BUILD BETTER INSTITUTIONS AT HOME REQUIRING THE REFORMS THAT CAN SECURE ANY COUNTRIES' LONG TERM SECURITY AND PROSPERITY. THAT'S HOW A GLOBAL PLAYING FIELD AND GLOBAL ECONOMY SUPPORTS VALUES WE WANT EVERYWHERE, FREE EXCHANGE OF IDEAS, FREE ENTERPRISE, TRANSPARENCY, ANTICORRUPTION, THE RULE OF LAW. WE TAKE THESE RES VERY -- THESE ISSUES VERY SERIOUSLY. WE TAKE SERIOUSLY THE NEED TO ATTRACT GLOBAL INVESTMENTS IN THE UNITED STATES. IN THE PAST, THAT'S BEEN AN EASY SALES PITCH. AMERICA HAS LONG HAD, STILL HAS THE MOST PRODUCTIVE WORKERS IN THE WORLD, THE BEST RESEARCH UNIVERSITIES IN THE WORLD, RULE OF LAW, HONOR CONTRACTS, LEGAL OBLIGATIONS, PROTECT INTELLECTUAL PROPERTY, BUT IT'S ABOUT THE CULTURE OF INNOVATION. I DON'T KNOW OF ANY OTHER COUNTRY IN THE WORLD, INCLUDING OUR EUROPEAN PARTNERS, THAT WOULD ENCOURAGE ITS PEOPLE TO CHALLENGE ORTHODOXY. WE HAVE TROUBLE WITH OUR EDUCATION THAT WE TRY TO IMPROVE, BUT THE ONE THING OUR SYSTEM THAT STANDS OUT, NO MATTER WHAT THE SCHOOL, CHILDREN ARE ENCOURAGED TO CHALLENGE ORTHODOXY, NOT ACCEPT IT, AND, IN FACT, WE JUST DON'T ENCOURAGE IT, WE TEACH IT. STEVE JOBS IN THE FAMOUS EXCHANGE WITH THE STUDENT IN STANFORD, WHAT DO I HAVE TO DO TO BE MORE LIKE YOU, PARAPHRASING, HE SAID, THINK DIFFERENT. YOU CAN'T THINK DIFFERENT IN A COUNTRY WHERE YOU CAN'T SPEAK FREELY. YOU CAN'T THINK DIFFERENT IN THE COUNTRY WHERE YOU ARE NOT ALLOWED TO CHALLENGE THE ORTHODOXY. YOU CAN'T THINK DIFFERENT IN THE COUNTRY THAT LIMITS WHAT YOU CAN BE ENGAGED IN. THAT'S WHY I'M OPTIMISTIC ABOUT OUR FUTURE, I BELIEVE IN THE 21ST CENTURY, THE TRUE WEALTH OF THE NATION FOUND IN THE CREATIVE MIND OF THE PEOPLE AND ABILITY TO INNOVATE, DEVELOP NEW PRODUCTS AND INDUSTRIES. THE UNITED STATES OF AMERICA IS HARD WIRED FOR INNOVATION. IT HAS ENABLED GENERATION AFTER GENERATION OF AMERICANS TO GIVE LIFE TO WORLD CHANGING IDEAS FROM THE COT TIN GIN, AIRPLANE, MICROCHIP, AND THE INTERNET. THE LIST GOES ON AND ON AND ON, THE ACCOMPLISHMENTS MADE POSSIBLE BY THE CAPACITY OF THE AMERICAN PEOPLE AND THE IMMIGRANTS WHO CONSTANTLY ENRICH AND REVITALIZE OUR NATIONAL FABRIC, AND THAT, MORE THAN ANYTHING, IS WHY I TRULY BELIEVE WE'RE BETTER POSITIONED THAN ANY COUNTRY IN THE WORLD TO BE THE LEADING ECONOMY IN THE 21ST CENTURY, BUT AT THE SAME TIME, WE KNOW THAT THINGS ARE CHANGING. WE HAVE TO MAKE SURE WE MAINTAIN OUR EDGE. WE NEED TO MAKE SURE WE'RE FULLY EQUIPPED FOR THE COMING COMPETITION. THAT TAKES ME TO THE LAST POINT. THAT'S WHY WE'RE INVESTING SO MUCH IN EDUCATION. THAT'S WHY WE THINK IT'S CRITICAL AND MAKING EARLY EDUCATION, STEM EDUCATION, SUCH A HIGH PRIORITY, MAKE INVESTMENTS, RESEARCH AND DEVELOPMENTS CRITICAL, AND THE ECONOMIC AGENDA, COMMITTED TO THE CUTTING EDGE TECHNOLOGY TO HELP ENSURE THAT THE NEW, NEW THING, WHICH IS NOW AN OLD, OLD PHRASE IS NOT JUST IMAGINED HERE, BUT IT IS MANUFACTURED HERE, AND THAT'S WHY WE ENCYST ON UPDATING OUR INFRASTRUCTURE SO THAT WE CAN ACCOMMODATE THE RAPIDLY CHANGING WORLD, NOT ONLY WILL WE ENCOURAGE BUSINESSES TO STAY IN AMERICA AND INVEST IN AMERICA, BUT IT WILL CREATE JOBS ON A SCALE WE REQUIRE RIGHT NOW. IT'S ESSENTIAL TO REFORM THE IMMIGRATION SYSTEM. EVERY YEAR, WE, IN A SENSE, EXPORT. EVERY YEAR, OUR UNIVERSITY SYSTEM GENERATES ROUGHLY 40,000 PEOPLE WITH Ph.D. , MASTER DEGREES IN AREAS OF SCIENCE AND TECHNOLOGY THAT WE NEED, AND WE MAKE SURE THAT THEY ARE PROMPTLY ESCORTED BACK TO THEIR COUNTRY. AT THE SAME TIME, WE'RE SPENDING HUNDREDS OF MILLIONS OF DOLLARS ON STEM EDUCATION. IT MAKES NO SENSE, IN MY HUMBLE OPINION. SENDING THEM BACK TO THE COUNTRY DENIES THEM OF A VISA EVEN WHEN THEY HAVE A JOB WAITING. RATHER THAN SENDING THEM HOME, STAMP THEIR CARD AS THEY WALK ACROSS THE STAGE -- [LAUGHTER] LITERALLY, I MEAN THIS LITERALLY [APPLAUSE] IF THEY HAVE A JOB HERE, STAY HERE. WE SHOULD WANT THEM HERE. LADIES AND GENTLEMEN, I'M OPPOSED TO ADDITIONAL H1B VISAS SO AMERICAN EMPLOYERS CAN HIRE BEST AND BRIGHTEST NO MATTER WHERE THEY COME FROM. YOU KNOW, IN VERY REAL TERMS, OUR FUTURE NATIONAL COMPETITIVENESS IS TIED TO GETTING A COMPREHENSIVE EDUCATION REFORM BILL ON THE PRESIDENT'S DESK. THOSE ARE THE THINGS WE ARE DOING RIGHT NOW, INFRASTRUCTURE, INVESTMENT, INNOVATIVE TECHNOLOGIES, EDUCATION, IMMIGRATION. THESE ARE THE THINGS, LIKE, FOR EXAMPLE, THE PRESIDENT ANNOUNCED THE HUNDRED MILLION, HAD OUR WAY, WE'D BE A BILLION DOLLAR PROJECT TO MAP THE HUMAN BRAIN. THAT'S NOT AN IDLE EXERCISE AS I WATCH SOME OF THE TALK SHOW GUYS THINKING, WELL, YOU KNOW, I MEAN, WE SHOULD SCAN THEIR BRAINS. [LAUGHTER] BUT I'M SERIOUS. IT'S AMAZING. SENSE WHEN DID WE BECOME THE NATION THAT INSTEAD OF EMBRACING SCIENCE AND BELIEVING THAT WE CAN SOLVE ANY PROBLEM AND EXTENDING OURSELVES, SINCE WHEN IS THAT ANTICOMPETITIVE OR ANTIBUSINESS OR LIBERAL? LADIES AND GENTLEMEN, THESE ARE THE THINGS WE'RE DOING RIGHT NOW AND CONTINUE TO MAKE AMERICA A PLACE WHERE FOREIGN COMPANIES WANT TO PUT DOWN ROOTS. WE HAVE ONE OF THE MOST OPEN ECONOMIES IN THE WORLD, SO WE KNOW THERE ARE GREAT OPPORTUNITIES FOR INVESTMENT IN THE UNITED STATES OF AMERICA. WE ARE DETERMINED TO MAKE SURE FOREIGN INVESTORS KNOW OF THEM AS WELL. FOR THE FIRST TIME EVER; WE HAVE AN INITIATIVE TO HELP FOREIGN COMPANIES THAT WANT TO INVEST IN AMERICA. TO FIGURE OUT HOW TO DO SO, VERY MUCH IN THE INTEREST FOR THAT TO HAPPEN. EACH OF THESE ACTIONS WILL HAVE ANOTHER EFFECT WHICH IS MAYBE THE MOST IMPORTANT OF ALL, THE MOST IMPORTANT TO DO, AND I THINK THIS AUDIENCE PROBABLY UNDERSTANDS IT. THAT IS, I THINK WE HAVE TO HELP GROW THE BASE OF AMERICAN EXPORTS IN THE SUPPORTING COMPANIES, INCLUDE THE PRODUCTS AND SERVICES THAT THE U.S. TREND, BUT ARE NOT EXPORTED AT THE RATE THEY COULD BE, AND ALSO INCLUDES ENCOURAGING MORE FIRST RATE EXPORTERS IN THE UNITED STATES. AS ALL OF YOU KNOW, REACHING A 95% OF THE CONSUMERS WHO LIVE BEYOND OUR BORDERS IS NOT MERELY AN OPPORTUNITY FOR AMERICAN COMPANIES, BUT MORE AND MORE IT'S A NECESSITY FOR AMERICAN COMPANIES. WE'VE MADE PROGRESS IN THAT FRONT. LAST YEAR, U.S. EXPORTS HAD A RECORD OF 2. 2 TRILLION. WITHOUT QUESTION, THIS EXPORT GROWTH IS CONTRIBUTED TO AMERICAS CREATING MORE THAN 6 MILLION JOBS IN THE PAST 30 # MONTH, AND I BELIEVE IF WE GET IT RIGHT, WE CAN ACHIEVE EVEN GREATER RESULTS. I ABSOLUTELY, FIRMLY BELIEVE WE CAN DO THIS. I'VE REFERRED TO AS THE WHITE HOUSE OPTIMIST. NOW, I READ THAT ALL THE TIME. WELL, IT'S LIKE I'M THE NEW GUY, I JUST FELL OFF THE TURNIP TRUCK YESTERDAY. [LAUGHTER] IN CASE, YOU HAVE NOT NOTICED, I'VE BEEN THERE LONGER THAN ANY OF THEM. [LAUGHTER] I HOPE Y'ALL HAVEN'T NOTICE THAT, BUT I'M AFRAID IT'S SELF-EVIDENT. [LAUGHTER] I'M OPTIMISTIC, NOT OUT OF NAIVETY, BUT I KNOW THE HISTORY OF THE JURY OF THE COUNTRY. HISTORY OF THE JOURNEY OF THE COUNTRY IS EVERY SINGLE CHALLENGE WE'VE UNLEASHED THE AMERICAN PEOPLE AND ALL OF YOU HAVE NEVER FAILED TO BE MET GIVEN THE AMERICAN PEOPLE HAVE THE CHANCE. WE HAVE BIG CHALLENGES, CHALLENGES WE HAVE TO ATTEND TO, BUT WE ATTEND TO THEM AS LONG AS WE'RE IN THE WHITE HOUSE, WE CONTINUE TO TEND TO THEM, AND I EXPECT A DEMOCRATIC REPUBLICAN WHO FOLLOWS THEM HAS NO CHOICE BUT TO ATTEND TO THEM. THE TRUTH IS THE REASON AMERICA'S BEEN A GLOBAL LEADER FOR SO LONG IS NOT LUCK. IT'S NOT A MATTER OF CHANCE. IT'S A MATTER OF EFFORT. IT'S A MATTER OF THINKING ABOUT THE NEXT STEP. IT'S A MATTER OF UNDERSTANDING HOW MUCH IT MATTERS. WE'VE ALWAYS RISE P IN THE CHALLENGE. THAT'S WHO WE HAVE ALWAYS BEEN. AS I MADE IN THE OUTOUTSET, STAMPED INTO OUR DNA AND WHY SO MANY PEOPLE STILL, AS CORNY AS IT SOUNDS, WHY SO MANY PEOPLE STILL WANT TO COME TO THE UNITED STATES. WE'LL RISE TO THE CHALLENGE, AND, HOPEFULLY, WE'LL BE LED BY ALL OF YOU IN THE ROOM. AS I TOLD MANY FOREIGN LEADERS, IT'S NEVER, NEVER BEEN A GOOD BET TO BET AGAINST AMERICA. I MEAN THAT SINCERELY. [APPLAUSE] NEVER, NEVER, NEVER GIVE US A BENEFIT OF THE DOUBT. [APPLAUSE] THE REASON IS NOT AS IF ALL OF YOU IN THE ROOM, FRED, YOU'RE DOING A GREAT JOB, ALL OF YOU ARE IN THIS FOR YOURSELVES AND FOR YOUR COUNTRY AND I JUST THINK THE NEXT 20 YEARS WE HAVE A CHANCE TO LEAVE OUR KIDS AND OUR GRAND KIDS IN A POSITION WHERE THEY ARE -- THEY ARE CLEARLY, UNE QIFLY BETTER POSITIONED AND REMAIN BETTER POSITIONED THAN ANY COUNTRY IN THE WORLD TO BE THE LEADING ECONOMY IN THE WORLDMENT THANK YOU, ALL, VERY MUCH FOR LISTENING, AND I APPRECIATE BEING HERE. [APPLAUSE] THANK YOU. [APPLAUSE] >> ...