From remarks by Marc Grossman, assistant secretary of state for European and Canadian affairs, at the State Department yesterday:
Q: And what . . . about European and United States economic relations in the new millennium? . . . Are these relations on the right track? . . .
Mr. Grossman: . . . It's a trillion-dollar-a-year relationship. . . . European investors are the largest foreign investors in 41 of 50 American states. One in 12 U.S. factory workers is employed in a European plant. U.S. companies employ 3 million people in Europe.
If you think about the future of this relationship, I think it's going to be about trying to get our trade disputes settled. It's also--and this is a personal opinion of mine--it's also going to be about an increasing number of combinations and joint ventures, like DaimlerChrysler and other combinations across the Atlantic. . . .
I don't think it's right to say that the relationship between Europe and the United States . . . is an unfettered, absolutely Adam Smith free-market thing. It isn't. The United States spends $50 billion a year on social programs, you know. Europeans spend a lot of money on unemployment insurance and social security, and everyone has to organize their societies in their own ways. . . .
Nobody in the United States is saying that everybody in the world has to be just like us. . . . But the ability to trade with one another and the ability to lower barriers and to have contacts has got to be the way to bring the most prosperity to the largest number of people.