Clinton shares his views on global economy in Davos, Switzerland, Saturday

January 29, 2000
Web posted at: 9:49 a.m. EST (1449 GMT)

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From staff and wire reports

DAVOS, Switzerland (CNN) -- U.S. President Bill Clinton on Saturday told world leaders at the World Economic Forum that global free trade would be a boon to all nations, but cautioned growth should not come at the expense of labor and the environment.

Clinton was the keynote speaker at the meeting in the posh ski resort of Davos, Switzerland. He addressed 30 heads of state and government, scores of ministers and some 1,200 corporate bosses on the advantages of open markets and his vision of the future of the world economy, the theme of this year's conference.

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"Globalization is revolutionizing the way we work, the way we live and, perhaps most important, the way we relate to each other across national boundaries," Clinton said. "It is tearing down barriers and building up networks between nations and individuals, between economies and cultures."

Clinton said as countries and economies become more interdependent, nations have to realize they "cannot build their own future without helping others build theirs."

The president said developing countries today can avoid environmental mistakes countries such as the United States made as their economies expanded. He also cautioned these nations not to depend heavily on trade agreements to build their economies, saying leaders have a responsibility to establish open, accountable governments.

Clinton said more openness in international markets will ensure that poorer nations share the prosperity now enjoyed by wealthier ones.

World leaders listen to Clinton during the World Economic Forum

"Turning away from trade would keep part of our global community forever on the bottom," Clinton said.

Clinton called on leaders to "reaffirm unambiguously" a commitment to open markets.

Referring to the Internet's impact on the global economy, Clinton said it's important to build on the connections that people, businesses and countries are making.

"Globalization is empowering people with information everywhere," Clinton told the group. "Trade can no longer be the province of politicians, CEOs and trade experts. It is too much a part of the fabric of global interdependence."

The World Economic Forum is the first major global business meeting since protesters, including environmentalists and labor activists, disrupted the World Trade Organization meeting in Seattle in December.

"We cannot pretend that globalization is just about economics," he said. He said it's important to address the concerns of groups like those that demonstrated at the Seattle meeting.

Clinton's views on trade coincide with those of many peaceful anti-WTO protesters in Seattle.

The ideas clash, however, with those of many developing countries that regard the attempt to impose labor standards in trade agreements as being unfair interference in their affairs by rich nations. And a new trade round will fail to go forward until it receives support from across the 135- member WTO.

World Trade Organization talks in December were marred by clashes between police and anti-WTO demonstrators in Seattle, Washington

Clinton called for strengthening WTO, but called on the organization to listen its critics.

The president is the first U.S. president to visit the annual economic talkfest in Davos. He brought along a sizable U.S. delegation, including Secretary of State Madeleine Albright, Commerce Secretary William Daley, Treasury Secretary Lawrence H. Summers and Energy Secretary Bill Richardson.

The president planned to stay only a few hours in Switzerland before returning to Washington, but he was expected to meet with President Adolf Ogi of Switzerland and Palestinian leader Yasser Arafat .

Israeli and Palestinian negotiators are expected to begin 10 days of talks Wednesday in the Middle East, with the goal of reaching a framework for a comprehensive peace agreement by February 13th.

The Associated Press contributed to this report.