6:01
thank you so much jim
6:02
you know on I'm reading this thing since I was in my
mid-twenties
6:06
up this is this is truly impressive body of work in as
6:11
as it was mentioned countries around the world
6:14
pay attention to this I hope ours does too
6:17
it I wanted first to congratulate ambassador Terry Miller
6:21
an Anthony Kim on for their hard work on this again
6:24
and I also want to mention on the fact that our country
6:28
receive an uptick in our rating this year and one of the reasons
why we see
6:32
this
6:32
uptick is because since we took over the house
6:36
in 2011 we started cutting spending we started capping
6:40
the kind that Congress is in control on an annual basis
discretionary spending
6:44
and so
6:44
I think it's noteworthy that because %uh the new republican
congress that took
6:49
over in 2011
6:50
we brought some temper to the out-of-control spending that
was
6:54
happening here in washington as a result
6:56
it made us more free that's a good step in the
7:00
right direction with many many steps to file now
7:03
after reading this report my big takeaway
7:06
is this in the free world
7:09
there is always going to be a new frontier that's exciting in the
new
7:15
frontier
7:16
for us is the global economy and in the global economy
7:21
we have incredible opportunities in front of us
7:25
if we seize these opportunities trade
7:28
is the opportunity that I want to mention trade liberalization in
trade
7:32
freedom
7:33
is something that is clearly articulated here in the index
7:36
and we have an upturn in front of us right now
7:39
with negotiations are to trade agreements
7:42
with Asia in with europe these two agreements
7:47
if successfully completed taken together represent
7:51
abou net new customers for american america's products
7:56
and two-thirds other global GDP
7:59
now here's the deal with trade
8:02
when we get trade agreements we usually put ourselves in it
better
8:06
trading posture to do well as a country take for example the fact
that if you
8:10
had
8:10
all the countries we have trade agreements with we have a
manufacturing
8:13
trade surplus with them
8:15
yet all the countries up that we had that we don't have trade
agreements with
8:19
with a big manufacturing trade deficit with so it is in our
interest
8:24
is a country to get trade agreements the other thing is if you're
standing still
8:29
want rate you are falling behind
8:31
because other countries are going around the world getting
bilateral agreements
8:35
for themselves in freezing America out in the process
8:37
so it's a very important that we stay on our toes
8:41
that we engage that we lower barriers to free trade that we lower
barriers to
8:46
free enterprise
8:47
now as we do this I think we're going to confront some other issues
as well
8:51
and where the issues that need confronting right here in this
congress
8:55
in this country as heritage is done such a good job of
playing
8:58
out is cronyism week in tech attack cronyism here at home and
abroad
9:03
also through trade whether its investor
9:07
whether state-owned investment state-owned enterprises
9:10
or own kind of cronyism that we see manifest itself to our
own
9:14
economic policy I think the creed that the thinkers here heritages
articulated
9:18
opportunity for all favoritism for non
9:21
that ought to be a creed that dire excess in ghitis going forward
in the
9:25
conduct of our economic policy
9:27
because we're the dangers we face here and abroad
9:31
is cronyism in cronyism in this manifestation means
9:35
big-government in big business coming correcting I'm to each
other
9:39
uniting in a common cause to read the rules to write the rules for
themselves
9:44
turek barriers to entry against would-be competitors we're going to
compete with
9:48
that
9:48
guess who loses consumers lose
9:51
freedom lose opportunity loses entrepreneurship lose
9:55
and so what we need to do if we want to improve our economic
outlook
10:00
improve our freedom are not done those trade barriers
10:04
get more access for our products to bill the cell
10:08
abroad and make sure that we do no way that honors our principles
of freedom
10:13
up a quality about 30 not a quality about come up getting
10:17
the ability for americans up every way shape and form
10:21
every size business to be able to compete
10:24
we do not want to prevent
10:26
would be competitors from getting in an industry in competing we
want to open it
10:30
up
10:31
because by opening up competition domestically
internationally
10:35
we get the ability for everybody to make improve their lot in
life
10:39
you know abraham Lincoln a 170 seven years ago today
10:44
argued that the ambitious and talented woodrow board
10:47
if all they had to do was preserved a country that other people had
founded
10:51
should course that was his he was the best counter example
had
10:55
his life work was securing this country
10:58
the way I see it the American idea is what is at stake
11:03
the American idea as we know it as we were taught it
11:06
as sons and daughters of immigrants is that the condition of your
birth
11:10
it doesn't determine the outcome of your life whoever you are
wherever you come
11:15
from however you started
11:17
the only thing that limits you from reaching our potential is your
own
11:20
effort in God given talent we want to make sure that we are still
that country
11:25
we want to make sure that your success is determined by your
mayor
11:30
by your hard work not based upon who you know your political
connections
11:33
and that kind of economic policy if we don't write the rules a
global economy
11:38
will be what dominates
11:40
that's the last point I'll make if we don't get engage
globally
11:44
if we don't get engage in writing the strike ends a trade
agreements that
11:47
respect the rule of law
11:49
that lower barriers that protect human rights and human dignity
and
11:53
entrepreneurialism
11:55
transparency accountability contracts then
11:58
other countries that don't rate very high on the index of economic
freedom
12:02
they will write the rules of the global economy with TPP is really
clear you
12:08
want China reading the rules of the global economy in Asia 31
12:11
I free enterprise loving nation like america writing the rules in
the global
12:14
economy
12:15
so all these issues come home to roost
12:19
and the good news is we've got a very easy guide to tells us what
works and
12:23
what doesn't
12:24
we know what gets people out of poverty we know what produces
upward mobility
12:29
we know it gives us better environment would guess that's better
democracy
12:32
what Kansas better higher living standards so now we just have to
go on
12:37
practice what we read in practice what we preach and I want to
thank the
12:39
scholars your heritage
12:41
for doing this for identifying this and for giving us
12:44
a measurement a barometer and a sense of accountability
12:47
and appreciate it thank you very much