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 Toning Down The Expectations - Air Force One Press Gaggle by Robert Gibbs 3/31/09 — Tuesday, March 31, 2009 —  Q Can I ask about -- can I sort of put the Russia and China meetings together? Both of those nations have been pretty aggressive in the way they've talked about the U.S., particularly on the currency issue, and are kind of looking to boost their own image and stature in the world by talking that way. How big a part do you think those kinds of issues will play in the meetings tomorrow?MR. GIBBS: Well, I -- look, I can't speak for what those countries will bring up. I think it's been -- we've been quite clear that the reserve currency of the world is now and will continue to be the U.S. dollar, the strength and the breadth of our economy is unmatched. I do think the President looks forward to each of these meetings as a way, again, of speaking of issues that are of mutual concern. Obviously there are -- there's a lot to deal with on the world stage and this is an opportunity for him to get a chance to talk to these two leaders on a very personal level tomorrow. Q Both of these nations are trying to sort of use this moment to more assertively challenge the U.S. So how does the President go into those meetings, sort of knowing that they occur in that context? MR. GIBBS: Well, I don't think it -- look, I think the President will have the issues that he wants to discuss and bring them up with each of those two countries. I don't think that changes what the President does at all. Q Robert, there seems to have been a -- everything seems to be toning down the expectations, trying to tamp down expectations for everything on this trip. What are the fair measuring sticks? April 7th, flying back, measuring sticks out of G20, out of NATO, out of the EU -- is it -- what are they? MR. GIBBS: Well, look, let's take the G20, for example. I think it's likely that we will come out of the G20 with very broad agreement on measures that have to be taken to address the global recession. We've already gotten -- despite what a lot has been written about -- at the financial ministerial level just a couple of weeks ago the commitment to continue to evaluate what has to be done to spur the global economy along. Q What does that mean? "Commitment to evaluate" -- I mean, that sounds like -- do you worry you get so much to a broad consensus -- MR. GIBBS: Let me be more specific, because this also hasn't been reported -- so I'll give you a chance to enumerate my evaluation. As we said last Saturday on the phone call in preparation for this, if you total up what the G20 nations have pledged to address the economic downturn, it represents 1.8 percent of GDP for the G20 nations. That is a significant commitment to addressing the downturn in GDP around the world. The pledge is to evaluate whether or not more steps will be needed in the future to address the breadth and severity of the crisis. I think secondly there will be broad consensus about far stronger financial regulations to ensure that what we're dealing with now never happens again, that we have different rules of the road for the 21st century. And I think that the United States and the Obama administration last week demonstrated its commitment to leadership in this endeavor by rolling out as strong a set of financial regulations as any country has proposed -- as well as a commitment to get them through Congress this year. So that we will not simply propose new rules of the road, but have them instituted by the end of the year, which will make progress in the sense of we won't just be speaking about this stuff, we'll be acting on it. We'll address hedge funds and derivatives as part of regulation. There are tougher capital requirements. There are tools to ensure greater security and safety in our financial system. And finally, as both the President and the Secretary of Treasury have spoken about, they give any administration unique tools and necessary tools to deal with systemic risks like resolution authority, which is something we lack in dealing with something the size of AIG. Q NATO? MR. GIBBS: You know, NATO, I think we will have an opportunity to discuss and review what the President has proposed. As I said, the Secretary of State heard some -- was pleased with what she heard in public and in private. So I think we want -- I think we're making progress and we'll see progress that demonstrates that the concern, as I said a minute ago, about Afghanistan and Pakistan are not simply the concern of one country or one -- Q -- measureable, though? Is it troop commitments? MR. GIBBS: Well, I don't want to get ahead of where we are. I think if we can demonstrate that there's broad international concern and that people are working together to address it, I think that'll be a success. Q What specifically pleased the Secretary of State the most, that she heard? MR. GIBBS: Well, again, I think it was an understanding that -- well, first of all, bringing together neighbors in the region to address in a larger way the problems that we face in Afghanistan and Pakistan. As you know, the President committed at the beginning of his administration to reviewing our policy -- not simply as one that relates to Afghanistan or one that relates to Pakistan, but one that relates to the region as the whole. That was important. Demonstrating -- understanding and demonstrating that commitment I think is important. And she was pleased with what she heard, as I said, in public and in private. Look, I think it's a helpful development if they're willing to continue their involvement to have Iran, a neighbor of Afghanistan, who can and should be concerned about drug trafficking into their country. If they are willing to accept the responsibility of playing a constructive role in that region, I think that's an important development. We'll see as we move forward how that goes. Q What parts of the G20 agenda are still in flux or still being negotiated? Or is it pretty much set right now, in terms of what the outcome will be? MR. GIBBS: I can go ask those guys in terms of what, in terms of the communiqué. I think the call that he had with Prime Minister Brown demonstrated that they made progress on a number of issues. One last thing I forgot to mention at G20 is obviously -- and this is largely agreed upon -- is a far greater commitment to international institutions in order to help emerging economies as we see this massive slowdown in global trade. Q -- contribution? MR. GIBBS: Yes. Q And do you think -- is that on the China agenda? When he meets with Hu, is that about getting them to kick in on this? MR. GIBBS: I will double check on that. But I know, again, that that is -- you know, greater exports from our country into emerging economies means jobs back home, so that's important. Q You talked about his consultations going into the G20, you know, all the conversations he's had with leaders in person and on the phone. Could you quantify that? I mean, pull together how many conversations and meetings he's had? MR. GIBBS: I can go back and try to -- you mean with leaders, not -- Q Yes. MR. GIBBS: Okay. Again, I know that -- like I said, in the past 10 days he's had -- Q We know, but when the President announced -- it seems like he's had a couple different conversations with some leaders, that once -- MR. GIBBS: Let me go back and try to pull together all of it. Again, I know -- you know I think about most of them. As I said, conversations in the past 10 days or so -- teleconferences with Sarkozy and Merkel; conversations with Brown, and visits by Rudd and Lula to the Oval Office. I should mention he talked with Prime Minister Harper in within the last, I think, 48 hours. Q Was it about cars? MR. GIBBS: I think partly to talk about that, but also to talk about G20. Air Force One | Economy | G20 | International Relations | Obama Administration | Press Gaggle | Robert Gibbs | White House Press Corps Labels: Air Force One, Economy, G20, International Relations, Obama Administration, Press Gaggle, Robert Gibbs, White House Press Corps
Posted by White House Press Corps @ 10:33 PM
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