Not at all. This is about a different set of challenges. As the Secretary said, just as the WTO eliminated harmful tariffs in the 1990s, today we need institutions that can provide solutions to the variety of market distortions that go beyond tariffs. That means creating and enforcing new agreements and mechanisms to guarantee fair competition -- the shape and scope of these is something we have to work through.
How will this lead to job growth here?
First, these efforts are directly connected to the President's goal of doubling exports over five years. Second, to the extent we can use diplomacy to put in place on new rules of the road for global competition, that will have an impact on everything from currency to non-tariff barriers to restrictions on investment, all of which have an impact on our companies' ability to compete around the world. And that translates directly into American jobs. Third, we're looking for new, creative opportunities to enhance the capacity of American companies to find different types of business opportunities.
The political environment's not very friendly to foreign aid right now. Is part of the idea here that she needs to make the case publicly, while this budget's on the chopping block in Congress?
We do want to show people this matters to the top priority that Americans have right now, which is economic recovery, job creation and growth. She definitely wants to make that connection. She wants to show people why there's a benefit to investing in the tools of diplomacy and development. But she also recognizes that tough budgetary times increase the need for us to be more sophisticated in the tools we use, to ensure we are getting maximum bang for our buck. We're not spending $10 billion on some huge plan for Egypt and Tunisia. We're using tools that, over the long run, will be more effective: trade and investment partnerships to help integrate those economies with their neighbors and then with Europe and the United States.
As part of this new approach, the State Department has announced plans to bring on a full-time economist. Have you hired anyone yet?
Not yet. We're in the process of compiling a short list of candidates.
Is there a profile that you have in mind? Are you looking for an academic or are you looking for more of a Wall Street type?
We want to talk to people from a broad range of backgrounds, and in the course of those conversations shape the right profile. But I think it's less likely to be a Wall Street type, and more likely to be someone with more of an international economic academic background. But I don't want to put the cart before the horse in saying that.
