    [Public Papers of the Presidents of the United States: George W. Bush (2001, Book II)]
    [July 21, 2001]
    [Pages 884-885]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    July 21, 2001

        Good morning. As you hear this, I am in Genoa, Italy, at an
    important meeting of the world's most industrialized nations and Russia.
    Our focus this year is on the poor and struggling nations of the world
    and what prosperous democracies can do to help them build a better
    future. This cause is the priority of the United States' foreign policy.

    [[Page 885]]

        We're a wealthy nation with responsibilities to help others. It is
    also in our best interest to do so, because we benefit when we have
    strong and stable partners around the world who trade with us and help
    keep the peace.
        Our discussions here in Europe are centered on some great goals. We
    want to spread the benefits of free trade as far and as wide as
    possible. Free trade is the only proven path out of poverty for
    developing nations. And when nations are shut off from the world, their
    people pay a steep price.
        Despite trade's proven track record for lifting the lives of the
    poor, some still oppose it. They seek to deny the poor and developing
    countries their best hope for escaping poverty. Legitimate concerns
    about labor standards, economic dislocation, and the environment should
    be addressed and will be. But the developing countries have no need for
    protectionist policies that would condemn them to permanent poverty.
        Yet, trade alone is not enough. Wealthy nations must also work in
    true partnership with developing countries to help them overcome
    obstacles to their development, such as illiteracy, disease, and
    unsustainable debt. This is compassionate conservatism at an
    international level, and it is the responsibility that comes with
    freedom and prosperity.
        To advance literacy in the developing world, I proposed that the
    United States increase funding for our international education
    assistance programs by nearly 20 percent. And we will lead a new effort
    to improve basic education and teacher training in Africa. We've
    proposed that the World Bank and other development banks increase the
    share of their funding devoted to education and to tie this support more
    directly to clear measurable results. And we have proposed that up to
    half of all the funds provided by development banks to the poorest
    countries be provided as grants rather than loans for education, health,
    and human needs.
        Today, many poor nations are benefiting from efforts to relieve them
    of the crippling burden of massive debt. But debt relief is ultimately a
    short-term fix. My proposal doesn't merely drop the debt; it helps stop
    the debt.
        A final item of business at our Genoa summit is to launch a new
    global fund to combat HIV/AIDS, malaria, and tuberculosis. The U.S.
    contributes nearly a billion dollars a year annually to international
    efforts to combat AIDS and infectious diseases, and we stand ready to
    contribute more to the global fund as it demonstrates its success.
        This is a time of great opportunity. What some call globalization is
    in fact the triumph of human liberty across national borders. We have
    today the chance to prove that freedom can work, not just in the new
    world or old world but in the whole world. Our great challenge is to
    include all the world's poor in an expanding circle of development
    throughout all the Americas and all of Asia and all of Africa. Such a
    world will enjoy greater freedom and prosperity and is far more likely
    to be at peace.
        Thank you for listening.

    Note: The address was recorded at 1:55 p.m. on July 17 in the Cabinet
    Room at the White House for broadcast at 10:06 a.m. on July 21. The
    transcript was made available by the Office of the Press Secretary on
    July 20 but was embargoed for release until the broadcast. The Office of
    the Press Secretary also released a Spanish language transcript of this
    address.