1 00:00:02,000 --> 00:00:06,000 STATECRAFT AT THIS POINT WITH 2 00:00:06,000 --> 00:00:11,000 RUSSIA. 3 00:00:24,000 --> 00:00:25,000 IF IN FACT RUSSIA ENGAGED IN 4 00:00:25,000 --> 00:00:26,000 THIS ACTIVITY, IT'S A LONG LIST 5 00:00:26,000 --> 00:00:27,000 OF ISSUES THAT ME AND VLADIMIR 6 00:00:27,000 --> 00:00:28,000 PUTIN TALK ABOUT. 7 00:00:28,000 --> 00:00:29,000 I HAVE A REAL PROBLEM WITH IT. 8 00:00:29,000 --> 00:00:30,000 I DON'T THINK IT WILDLY SWINGS 9 00:00:30,000 --> 00:00:31,000 WHAT IS A TOUGH, DIFFICULT 10 00:00:31,000 --> 00:00:32,000 RELATIONSHIP WE HAVE RIGHT NOW. IT'S NOT GOING TO STOP US FROM 11 00:00:32,000 --> 00:00:34,000 TRYING TO PURSUE SOLUTIONS SO 12 00:00:34,000 --> 00:00:39,000 THAT WE CAN IMPLEMENT THE MINSK 13 00:00:44,000 --> 00:00:46,000 AGREEMENT AND GET RUSSIA AND 14 00:00:46,000 --> 00:00:48,000 THOSE SEPARATISTS TO LAY DOWN 15 00:00:48,000 --> 00:00:50,000 ARMS AND STOP BULLYING UKRAINE. 16 00:00:50,000 --> 00:00:53,000 IT WON'T STOP US FROM BRINGING A 17 00:00:53,000 --> 00:00:55,000 POLITICAL TRANSITION INSIDE 18 00:00:55,000 --> 00:00:56,000 SYRIA THAT CAN AND THE HARDSHIP 19 00:00:56,000 --> 00:01:01,000 THERE. 20 00:01:06,000 --> 00:01:07,000 PRIME MINISTER LEE: CAN I SAY 21 00:01:07,000 --> 00:01:09,000 SOMETHING ABOUT TPP? 22 00:01:09,000 --> 00:01:14,000 I DON'T WANT TO GET INTO YOUR 23 00:01:21,000 --> 00:01:22,000 DOMESTIC POLITICS. 24 00:01:22,000 --> 00:01:26,000 LOOKING AT SOMEONE WHO IS 25 00:01:26,000 --> 00:01:27,000 SOMEONE WHO HAS BEEN INTIMATELY 26 00:01:27,000 --> 00:01:28,000 INVOLVED IN TRIGGERED THE WHOLE 27 00:01:28,000 --> 00:01:29,000 PROCESS, IT HAS BECOME THIS 28 00:01:29,000 --> 00:01:30,000 IMPORTANT INITIATIVE. 29 00:01:30,000 --> 00:01:32,000 THE ECONOMIC ARGUMENTS FOR THE 30 00:01:32,000 --> 00:01:33,000 TPP IN TERMS OF TRADE, I THINK 31 00:01:33,000 --> 00:01:34,000 THE PRESIDENT HAS PRESENTED THEM 32 00:01:34,000 --> 00:01:36,000 ELOQUENTLY. 33 00:01:36,000 --> 00:01:37,000 IT IS A DEAL THE COUNTRIES HAVE 34 00:01:37,000 --> 00:01:42,000 NEGOTIATED. EACH ONE PROVIDES MARKET ACCESS 35 00:01:47,000 --> 00:01:49,000 ON THEIR SIDE IN RETURN FOR 36 00:01:49,000 --> 00:01:50,000 GAINING MARKET ACCESS ON THE 37 00:01:50,000 --> 00:01:51,000 OTHER SIDE. 38 00:01:51,000 --> 00:01:55,000 THEY ARE COMMITTING TO RULES. 39 00:01:55,000 --> 00:01:58,000 IT IS A HARD FOUGHT BARGAINING 40 00:01:58,000 --> 00:02:01,000 ROSS US. 41 00:02:01,000 --> 00:02:03,000 THE NEGOTIATORS SPENT MANY TRIPS 42 00:02:03,000 --> 00:02:04,000 AND NIGHTS AND MANY DAWNS AND 43 00:02:04,000 --> 00:02:06,000 FIND OUT. 44 00:02:06,000 --> 00:02:07,000 AT THE AND OF IT, EVERYBODY MUST 45 00:02:07,000 --> 00:02:08,000 DECIDE IS A PLUS OR MINUS FOR 46 00:02:08,000 --> 00:02:10,000 THEM? IN YOUR CASE, I THINK MIKE 47 00:02:10,000 --> 00:02:11,000 FROMAN DID A VERY GOOD JOB. 48 00:02:11,000 --> 00:02:12,000 OURS DID THE BEST THEY COULD 49 00:02:12,000 --> 00:02:15,000 BRING BACK SOMETHING THE 50 00:02:15,000 --> 00:02:17,000 POLITICAL LEADERSHIP COULD STAND 51 00:02:17,000 --> 00:02:18,000 BY AND SUPPORT. 52 00:02:18,000 --> 00:02:20,000 IT'S AN ACHIEVEMENT THAT ALL THE 53 00:02:20,000 --> 00:02:21,000 MEMBERS OF THE TPP AT THE END OF 54 00:02:21,000 --> 00:02:23,000 THIS ARE STILL WITH US. 55 00:02:23,000 --> 00:02:25,000 NOBODY HAS STRUCK OUT OF THIS. 56 00:02:25,000 --> 00:02:27,000 THERE IS SOMETHING IN IT FOR 57 00:02:27,000 --> 00:02:31,000 EACH ONE OF US. 58 00:02:31,000 --> 00:02:33,000 I THINK WE SHOULD LOOK AT THE 59 00:02:33,000 --> 00:02:38,000 OTHER SIDE OF THE ECONOMIC 60 00:02:39,000 --> 00:02:43,000 BENEFIT. 61 00:02:43,000 --> 00:02:44,000 I AM EXPORTING. 62 00:02:44,000 --> 00:02:45,000 I AM EARNING A JOB. 63 00:02:45,000 --> 00:02:46,000 I AM SPENDING AND I AM CONSUMING 64 00:02:46,000 --> 00:02:47,000 AND IMPORTING AND BECAUSE OF 65 00:02:47,000 --> 00:02:48,000 THIS, I AM GETTING A WIDER RANGE 66 00:02:48,000 --> 00:02:49,000 OF PRODUCTS AND SERVICES AND 67 00:02:49,000 --> 00:02:54,000 OPPORTUNITIES THAT WILL IMPROVE. 68 00:02:58,000 --> 00:02:59,000 PEOPLE TALK ABOUT WALMART WITH 69 00:02:59,000 --> 00:03:00,000 PRODUCT COMING FROM ALL OVER 70 00:03:00,000 --> 00:03:01,000 ASIA. 71 00:03:01,000 --> 00:03:02,000 WHO BENEFITS? 72 00:03:02,000 --> 00:03:03,000 PEOPLE IN AMERICA. 73 00:03:03,000 --> 00:03:06,000 NOT JUST EXPORTERS. 74 00:03:06,000 --> 00:03:07,000 THESE ARE PART OF YOUR INVISIBLE 75 00:03:07,000 --> 00:03:11,000 STANDARD OF LIVING. 76 00:03:11,000 --> 00:03:13,000 IT IS REAL AND IT IS VALUABLE. 77 00:03:13,000 --> 00:03:18,000 IN TERMS OF THE ECONOMIC 78 00:03:20,000 --> 00:03:25,000 BENEFITS, THE TPP IS A BIG DEAL. 79 00:03:27,000 --> 00:03:28,000 IN TERMS OF AMERICA'S ENGAGEMENT 80 00:03:28,000 --> 00:03:29,000 IN THE REGION, YOU HAVE PUT A 81 00:03:29,000 --> 00:03:31,000 REPUTATION ON THE LINE. 82 00:03:31,000 --> 00:03:33,000 IT IS THE BIG THING WHICH 83 00:03:33,000 --> 00:03:37,000 AMERICA IS DOING IN THE 84 00:03:37,000 --> 00:03:39,000 ASIA-PACIFIC WITH THE OBAMA 85 00:03:39,000 --> 00:03:42,000 ADMINISTRATION. 86 00:03:42,000 --> 00:03:44,000 PARTNERS, YOUR FRIENDS WHO HAVE 87 00:03:44,000 --> 00:03:45,000 COME TO THE TABLE WHO HAVE 88 00:03:45,000 --> 00:03:46,000 NEGOTIATED, EACH ONE OF THEM HAS 89 00:03:46,000 --> 00:03:47,000 OVERCOME SOME OBJECTION, SOME 90 00:03:47,000 --> 00:03:49,000 SENSITIVITY, SOME POLITICAL COST 91 00:03:49,000 --> 00:03:50,000 TO COME TO THE TABLE AND MAKE 92 00:03:50,000 --> 00:03:52,000 THIS DEAL. 93 00:03:52,000 --> 00:03:54,000 IF THE BRIDE DOESN'T ARRIVE, I 94 00:03:54,000 --> 00:03:56,000 THINK PEOPLE WILL FEEL VERY 95 00:03:56,000 --> 00:04:01,000 HURT. 96 00:04:07,000 --> 00:04:12,000 IT SEVERAL OF HIS PREDECESSORS 97 00:04:13,000 --> 00:04:17,000 THOUGHT SERIOUSLY ABOUT 98 00:04:17,000 --> 00:04:22,000 PARTICIPATING IN THE TPP. 99 00:04:25,000 --> 00:04:26,000 THEY WALKED AWAY. 100 00:04:26,000 --> 00:04:27,000 HE WANTS TO HELP. 101 00:04:27,000 --> 00:04:28,000 HE WANTS HIS COUNTRY TO BENEFIT 102 00:04:28,000 --> 00:04:29,000 AND TO OPEN UP ITS MARKET. 103 00:04:29,000 --> 00:04:30,000 THIS IS ONE WAY TO DO THAT. 104 00:04:30,000 --> 00:04:35,000 YOU DON'T DO THIS. 105 00:04:45,000 --> 00:04:46,000 IT HURTS RELATIONSHIP WITH 106 00:04:46,000 --> 00:04:48,000 JAPAN. 107 00:04:48,000 --> 00:04:49,000 IT HURTS YOUR SHOULD. AGREEMENT WITH JAPAN AND THE 108 00:04:49,000 --> 00:04:50,000 JAPANESE LIVING IN ON AN 109 00:04:50,000 --> 00:04:52,000 UNCERTAIN WORLD. 110 00:04:52,000 --> 00:04:53,000 THEY ARE DEPENDING ON THE 111 00:04:53,000 --> 00:04:55,000 AMERICAN NUCLEAR UMBRELLA. 112 00:04:55,000 --> 00:04:58,000 ON LIFE-AND-DEATH, WHOM DO I 113 00:04:58,000 --> 00:05:02,000 HAVE TO DEPEND ON? 114 00:05:02,000 --> 00:05:03,000 THIS WILL NOT BE SET OPENLY. 115 00:05:03,000 --> 00:05:08,000 I HAVE NO DOUBT. 116 00:05:08,000 --> 00:05:09,000 I THINK IF YOU GO BEYOND THAT, I 117 00:05:09,000 --> 00:05:14,000 WOULD LIKE THE TEA PEOPLE 118 00:05:14,000 --> 00:05:15,000 QUESTION WITH AN EARLIER 119 00:05:15,000 --> 00:05:19,000 QUESTION. 120 00:05:19,000 --> 00:05:23,000 WHERE DO WE GO FOR THE NEXT 50 121 00:05:23,000 --> 00:05:27,000 YEARS? 122 00:05:27,000 --> 00:05:28,000 THAT DEPENDS IF WE GO TOWARD 123 00:05:28,000 --> 00:05:33,000 INTERDEPENDENCE AND THEREFORE 124 00:05:33,000 --> 00:05:37,000 PEACEFUL COOPERATION OR WE GO 125 00:05:37,000 --> 00:05:40,000 FOR SELF-SUFFICIENCY, RIVALRY, A 126 00:05:40,000 --> 00:05:41,000 HIGHER RISK OF CONFLICT. 127 00:05:41,000 --> 00:05:46,000 ASIA HAS TRIED BOTH. 128 00:05:51,000 --> 00:05:53,000 THE WORLD HAS TRIED BOTH. 129 00:05:53,000 --> 00:05:56,000 IN THE 1930'S, WITH A VERY 130 00:05:56,000 --> 00:05:57,000 DIFFICULT INTERNATIONAL 131 00:05:57,000 --> 00:05:59,000 ENVIRONMENT, YOU HAD A RIVALRY WITH JAPAN WHICH LED TO WAR. 132 00:05:59,000 --> 00:06:00,000 AFTER THE WAR, BECAUSE AMERICA 133 00:06:00,000 --> 00:06:03,000 WAS OPEN AND BECAUSE YOU 134 00:06:03,000 --> 00:06:05,000 PROMOTED TRADE AND YOU 135 00:06:05,000 --> 00:06:10,000 ENCOURAGED INVESTMENT AND OTHER 136 00:06:29,000 --> 00:06:30,000 COUNTRIES TO OPEN UP, THE 137 00:06:30,000 --> 00:06:31,000 ASIA-PACIFIC HAS BEEN PEACEFUL. 138 00:06:31,000 --> 00:06:32,000 IF OVER THE NEXT 50 YEARS YOU 139 00:06:32,000 --> 00:06:33,000 CONTINUE TO WORK TOWARD 140 00:06:33,000 --> 00:06:34,000 INTERDEPENDENCE AND COOPERATION 141 00:06:34,000 --> 00:06:35,000 AND NEUTRAL PROSPERITY, WE CAN 142 00:06:35,000 --> 00:06:37,000 SAY THESE HAVE BEEN PEACEFUL 143 00:06:37,000 --> 00:06:38,000 YEARS AND WE HAVE MADE FURTHER 144 00:06:38,000 --> 00:06:39,000 PROGRESS TOGETHER. 145 00:06:39,000 --> 00:06:40,000 IF YOU GO IN THE OPPOSITE 146 00:06:40,000 --> 00:06:41,000 DIRECTION AND YOU DECIDE THAT 147 00:06:41,000 --> 00:06:45,000 THIS WILL SPLIT DOWN THE MIDDLE. 148 00:06:45,000 --> 00:06:49,000 I THINK THAT'S A VERY DIFFERENT 149 00:06:49,000 --> 00:06:50,000 WORLD. 150 00:06:50,000 --> 00:06:52,000 ONE OF THE REASONS WHY YOU DON'T 151 00:06:52,000 --> 00:06:54,000 HAVE A MANAGEABLE RELATIONSHIP 152 00:06:54,000 --> 00:06:55,000 WITH CHINA NOW IS BECAUSE YOU 153 00:06:55,000 --> 00:06:58,000 HAVE TRADE. 154 00:06:58,000 --> 00:07:03,000 IT IS MUTUALLY THAT OFFICIAL. 155 00:07:03,000 --> 00:07:05,000 BOTH SIDES WANT TO MAINTAIN THAT 156 00:07:05,000 --> 00:07:06,000 RELATIONSHIP. 157 00:07:06,000 --> 00:07:07,000 IF YOU DIDN'T, IT WOULD BE LIKE 158 00:07:07,000 --> 00:07:09,000 THE SOVIET UNION DURING THE COLD 159 00:07:09,000 --> 00:07:11,000 WAR. 160 00:07:11,000 --> 00:07:13,000 YOU STILL HAD TO FIND WAYS TO 161 00:07:13,000 --> 00:07:14,000 WORK TOGETHER, BUT IT'S MUCH 162 00:07:14,000 --> 00:07:15,000 HARDER. 163 00:07:15,000 --> 00:07:17,000 THE TPP DOES NOT INCLUDE CHINA. 164 00:07:17,000 --> 00:07:19,000 IT POINTS THE DIRECTION TOWARD 165 00:07:19,000 --> 00:07:24,000 THE WORLD. 166 00:07:27,000 --> 00:07:28,000 IF YOU SET THE WRONG DIRECTION, 167 00:07:28,000 --> 00:07:30,000 IN THE NEXT 50 YEARS MAYBE YOU 168 00:07:30,000 --> 00:07:31,000 WILL TURN AROUND, BUT IT WILL 169 00:07:31,000 --> 00:07:33,000 COST YOU MANY YEARS IN THE WORLD 170 00:07:33,000 --> 00:07:38,000 WILL HAVE TO PAY QUITE A HIGH 171 00:07:41,000 --> 00:07:44,000 PRICE. 172 00:07:44,000 --> 00:07:45,000 >> I AM FROM THE BUSINESS TIMES 173 00:07:45,000 --> 00:07:46,000 IN SINGAPORE. 174 00:07:46,000 --> 00:07:50,000 GOOD AFTERNOON. I HAVE TWO QUESTIONS. 175 00:07:50,000 --> 00:07:55,000 EVERYBODY KNOWS WHAT THE STAKES 176 00:07:56,000 --> 00:07:57,000 ARE. 177 00:07:57,000 --> 00:07:58,000 WHAT IS THE FUTURE OF THE TPP IF 178 00:07:58,000 --> 00:07:59,000 IT DOES NOT GET RATIFIED DURING 179 00:07:59,000 --> 00:08:02,000 THE LAME-DUCK SESSION? 180 00:08:02,000 --> 00:08:07,000 THE FEAR IS THAT IF THINGS WAIT 181 00:08:13,000 --> 00:08:17,000 TOO LONG, IT MIGHT NEED TO BE 182 00:08:17,000 --> 00:08:22,000 OPENED UP FOR RE-NEGOTIATION. HOW CAN WE REASSURE THE NATIONS 183 00:08:22,000 --> 00:08:24,000 AND THE PEOPLE THERE IS THE 184 00:08:24,000 --> 00:08:26,000 POLITICAL WILL TO GET THIS DONE 185 00:08:26,000 --> 00:08:31,000 AS SOON AS POSSIBLE? 186 00:08:31,000 --> 00:08:34,000 THE SECOND QUESTION IS FOR 187 00:08:34,000 --> 00:08:36,000 PRESIDENT OBAMA. 188 00:08:36,000 --> 00:08:37,000 WE ARE ALMOST AT THE END OF YOUR 189 00:08:37,000 --> 00:08:41,000 EIGHT YEARS IN OFFICE. 190 00:08:41,000 --> 00:08:43,000 I WOULD LIKE YOU TO EVALUATE 191 00:08:43,000 --> 00:08:47,000 PROGRESS REGARDING A SHIP. 192 00:08:47,000 --> 00:08:49,000 WHAT IS THE THING YOU'RE MOST 193 00:08:49,000 --> 00:08:50,000 PROUD OF? 194 00:08:50,000 --> 00:08:52,000 WHAT IS SOMETHING YOU WOULD HAVE 195 00:08:52,000 --> 00:08:54,000 DONE IT DIFFERENTLY? 196 00:08:54,000 --> 00:08:56,000 WHAT IS YOUR MESSAGE TO YOUR 197 00:08:56,000 --> 00:08:58,000 SUCCESSOR TO ENGAGE SINGAPORE, 198 00:08:58,000 --> 00:09:01,000 SOUTHEAST ASIA, THE 199 00:09:01,000 --> 00:09:02,000 ASIA-PACIFIC? 200 00:09:02,000 --> 00:09:07,000 PRIME MINISTER LEE: WITH RESPECT 201 00:09:08,000 --> 00:09:10,000 -- 202 00:09:10,000 --> 00:09:12,000 PRESIDENT OBAMA: WITH RESPECT TO 203 00:09:12,000 --> 00:09:13,000 TPP, I THOUGHT PRIME MINISTER 204 00:09:13,000 --> 00:09:14,000 LEE'S POINTS WERE RIGHT ON 205 00:09:14,000 --> 00:09:19,000 TARGET. THIS IS AN ECONOMIC AGREEMENT. 206 00:09:25,000 --> 00:09:26,000 WHAT WE HAVE LEARNED IN HISTORY 207 00:09:26,000 --> 00:09:27,000 IS YOU CAN'T SEPARATE ECONOMICS 208 00:09:27,000 --> 00:09:28,000 AND ISSUES AND SECURITY ISSUES. 209 00:09:28,000 --> 00:09:29,000 THE PRIME MINISTER IS RIGHT. 210 00:09:29,000 --> 00:09:34,000 WE HAVE BENEFITED FROM A NORM US 211 00:09:34,000 --> 00:09:39,000 ENORMOUS PEACE AND PROSPERITY 212 00:09:40,000 --> 00:09:41,000 AROUND THE WORLD. 213 00:09:41,000 --> 00:09:46,000 WE HAVE HAD AN UNPRECEDENTED TIME WHERE THE GREAT POWERS 214 00:09:48,000 --> 00:09:49,000 WERE NOT ENGAGED IN CONFLICT. 215 00:09:49,000 --> 00:09:50,000 THIS WAS IN PART AS A GROWING 216 00:09:50,000 --> 00:09:51,000 INTERDEPENDENCE. 217 00:09:51,000 --> 00:09:52,000 IF YOU THINK ABOUT THOSE PARTS OF THE WORLD WHERE WE STILL SEE 218 00:09:52,000 --> 00:09:53,000 CONFLICT, WHERE WE STILL SEE 219 00:09:53,000 --> 00:09:54,000 HIGH LEVELS OF VIOLENCE, THEY 220 00:09:54,000 --> 00:09:55,000 ARE PLACES THAT ARE LESS 221 00:09:55,000 --> 00:09:56,000 INTEGRATED INTO THE WORLD 222 00:09:56,000 --> 00:10:01,000 ECONOMY. 223 00:10:14,000 --> 00:10:15,000 THERE IS A REASON FOR THAT. 224 00:10:15,000 --> 00:10:18,000 THERE IS A POWERFUL ECONOMIC 225 00:10:18,000 --> 00:10:23,000 CASE, A BREAD-AND-BUTTER CASE 226 00:10:23,000 --> 00:10:25,000 ABOUT WHY THIS IS GOOD FOR 227 00:10:25,000 --> 00:10:27,000 AMERICAN WORKERS. 228 00:10:27,000 --> 00:10:30,000 IT'S ULTIMATELY GOOD FOR 229 00:10:30,000 --> 00:10:34,000 AMERICAN WAGES IF IT'S 230 00:10:34,000 --> 00:10:39,000 STRUCTURED PROPERLY. 231 00:10:41,000 --> 00:10:42,000 I THINK IT'S IMPORTANT FOR 232 00:10:42,000 --> 00:10:43,000 PEOPLE TO RECOGNIZE THAT THE 233 00:10:43,000 --> 00:10:48,000 ALTERNATIVE IS NOT TPP OR SOME 234 00:10:48,000 --> 00:10:50,000 IMAGINARY CIRCUMSTANCE IN WHICH 235 00:10:50,000 --> 00:10:51,000 SOMETHING WE ARE ABLE TO SELL 236 00:10:51,000 --> 00:10:54,000 GOODS AROUND THE WORLD WHEREVER 237 00:10:54,000 --> 00:10:59,000 WE WANT BUT NOBODY IS ABLE TO 238 00:11:10,000 --> 00:11:12,000 SELL GOODS TO US. 239 00:11:12,000 --> 00:11:13,000 WE CAN OPERATE ANYWHERE AROUND 240 00:11:13,000 --> 00:11:14,000 THE WORLD. THAT IS NOT THE ALTERNATIVE. 241 00:11:14,000 --> 00:11:16,000 THE ALTERNATIVE IS WHAT WE HAVE 242 00:11:16,000 --> 00:11:18,000 TODAY. 243 00:11:18,000 --> 00:11:21,000 A SITUATION IN WHICH WE DON'T 244 00:11:21,000 --> 00:11:24,000 HAVE AS MANY PROTECTIONS AROUND 245 00:11:24,000 --> 00:11:26,000 ABER AND ENVIRONMENTAL ISSUES AS 246 00:11:26,000 --> 00:11:27,000 WE WOULD LIKE. 247 00:11:27,000 --> 00:11:28,000 A SITUATION IN WHICH THERE ARE 248 00:11:28,000 --> 00:11:33,000 COUNTRIES LIKE JAPAN THAT SELL A 249 00:11:33,000 --> 00:11:34,000 LOT OF GOODS HERE, BUT KEEP 250 00:11:34,000 --> 00:11:35,000 RESTRICTED ACCESS FOR U.S. 251 00:11:35,000 --> 00:11:36,000 COMPANIES AND U.S. WORKERS TO 252 00:11:36,000 --> 00:11:38,000 THEIR MARKETS. 253 00:11:38,000 --> 00:11:40,000 PRIME MINISTER LEE IS RIGHT. 254 00:11:40,000 --> 00:11:45,000 THE PRIME MINISTER OF JAPAN IS 255 00:11:45,000 --> 00:11:47,000 TAKING SOME RISKS BECAUSE HE 256 00:11:47,000 --> 00:11:49,000 KNOWS HE NEEDS TO MAKE HIS 257 00:11:49,000 --> 00:11:52,000 ECONOMY MORE COMPETITIVE. 258 00:11:52,000 --> 00:11:54,000 THIS WILL OPEN UP ACCESS WE 259 00:11:54,000 --> 00:11:57,000 HAVEN'T SEEN IN THE PAST. 260 00:11:57,000 --> 00:11:59,000 THAT IS A BIG MARKET. 261 00:11:59,000 --> 00:12:00,000 IT IS STILL ONE OF THE TOP THREE 262 00:12:00,000 --> 00:12:03,000 ECONOMIES IN THE WORLD. 263 00:12:03,000 --> 00:12:08,000 THE LAST POINT I WOULD MAKE 264 00:12:10,000 --> 00:12:13,000 AROUND THIS IS CHINA. 265 00:12:13,000 --> 00:12:14,000 AS PRIME MINISTER LEE MENTIONED, 266 00:12:14,000 --> 00:12:19,000 CHINA IS NOT PART OF THE TPP. 267 00:12:22,000 --> 00:12:24,000 IF WE DON'T ESTABLISH STRONG 268 00:12:24,000 --> 00:12:29,000 RULES AND NORMS FOR HAVE TRADE 269 00:12:29,000 --> 00:12:32,000 AND COMMERCE IS CONDUCTED IN THE 270 00:12:32,000 --> 00:12:33,000 ASIA-PACIFIC REGION, CHINA WILL. 271 00:12:33,000 --> 00:12:34,000 CHINA IS ENGAGING ALL THE 272 00:12:34,000 --> 00:12:37,000 COUNTRIES IN THE REGION AROUND 273 00:12:37,000 --> 00:12:39,000 ITS OWN VERSION OF TRADE 274 00:12:39,000 --> 00:12:42,000 AGREEMENTS. 275 00:12:42,000 --> 00:12:43,000 THEY ARE NOT WORRIED ABOUT LABOR 276 00:12:43,000 --> 00:12:48,000 STANDARDS OR ENVIRONMENTAL 277 00:12:49,000 --> 00:12:50,000 STANDARDS OR HUMAN TRAFFICKING 278 00:12:50,000 --> 00:12:51,000 OR ANTICORRUPTION MEASURES. 279 00:12:51,000 --> 00:12:53,000 YOU GET A LOW STANDARD, LOWEST 280 00:12:53,000 --> 00:12:54,000 COMMON DENOMINATOR TRADE DEAL. 281 00:12:54,000 --> 00:12:56,000 IF AMERICA IS IT CREATING HIGH 282 00:12:56,000 --> 00:12:58,000 STANDARDS, CHINA'S RULES WILL 283 00:12:58,000 --> 00:12:59,000 GOVERN IN THE FASTEST-GROWING 284 00:12:59,000 --> 00:13:00,000 PART OF THE WORLD. 285 00:13:00,000 --> 00:13:01,000 THAT'S BAD FOR US ECONOMICALLY. 286 00:13:01,000 --> 00:13:04,000 IT'S ALSO BAD FOR SECURITY 287 00:13:04,000 --> 00:13:07,000 INTERESTS. 288 00:13:07,000 --> 00:13:08,000 IT'S BAD FOR THE INTERESTS IN 289 00:13:08,000 --> 00:13:10,000 PROMOTING NORMS AGAINST CHILD 290 00:13:10,000 --> 00:13:12,000 LABOR OR HUMAN TRAFFICKING OR 291 00:13:12,000 --> 00:13:14,000 MAKING SURE EVERYBODY IS WORKING 292 00:13:14,000 --> 00:13:15,000 HARDER TO RAISE CONSERVATION 293 00:13:15,000 --> 00:13:20,000 STANDARDS. 294 00:13:35,000 --> 00:13:37,000 THAT IS THE ALTERNATIVE. 295 00:13:37,000 --> 00:13:38,000 THOSE ARE THE OPTIONS. 296 00:13:38,000 --> 00:13:40,000 I THINK IT'S IMPORTANT FOR US TO 297 00:13:40,000 --> 00:13:43,000 GET THIS DONE. 298 00:13:43,000 --> 00:13:46,000 NOTHING IN LIFE IS CERTAIN. 299 00:13:46,000 --> 00:13:47,000 WE'VE GOT A GOOD TRACK RECORD OF 300 00:13:47,000 --> 00:13:48,000 GETTING STUFF DONE WHEN I THINK 301 00:13:48,000 --> 00:13:50,000 IT'S IMPORTANT. 302 00:13:50,000 --> 00:13:51,000 I WILL SAY THIS: THIS IS NOT 303 00:13:51,000 --> 00:13:54,000 JUST AN OBAMA ADMINISTRATION 304 00:13:54,000 --> 00:13:55,000 INITIATIVE. 305 00:13:55,000 --> 00:13:57,000 THIS CONCEPT BEGAN IN A 306 00:13:57,000 --> 00:13:58,000 REPUBLICAN ADMINISTRATION. 307 00:13:58,000 --> 00:14:00,000 WE PUSHED IT THROUGH. 308 00:14:00,000 --> 00:14:02,000 WE MADE IT HAPPEN. 309 00:14:02,000 --> 00:14:03,000 WE MADE SURE THAT THE THINGS 310 00:14:03,000 --> 00:14:05,000 THAT I CARE ABOUT WERE 311 00:14:05,000 --> 00:14:06,000 INCORPORATED INTO IT. 312 00:14:06,000 --> 00:14:08,000 HISTORICALLY THIS IS HAD STRONG 313 00:14:08,000 --> 00:14:09,000 BIPARTISAN SUPPORT. 314 00:14:09,000 --> 00:14:10,000 WE WILL GO OUT THERE AND MAKE 315 00:14:10,000 --> 00:14:12,000 THOSE ARGUMENTS. 316 00:14:12,000 --> 00:14:13,000 I THINK WE WILL BE SUCCESSFUL. 317 00:14:13,000 --> 00:14:15,000 IN TERMS OF MY BALANCED LEGACY, 318 00:14:15,000 --> 00:14:17,000 ACROSS THE BOARD, WE ARE IN THE 319 00:14:17,000 --> 00:14:19,000 GAME. 320 00:14:19,000 --> 00:14:22,000 WE ARE FOCUSED ON ASIA AND AWAY 321 00:14:22,000 --> 00:14:24,000 WE WEREN'T WHEN I CAME INTO 322 00:14:24,000 --> 00:14:29,000 OFFICE. 323 00:14:50,000 --> 00:14:51,000 THE COUNTRIES HAVE NOTICED. 324 00:14:51,000 --> 00:14:52,000 OUR ALLIANCES ARE STRONG. 325 00:14:52,000 --> 00:14:53,000 OUR SECURITY ARRANGEMENTS ARE 326 00:14:53,000 --> 00:14:55,000 DEEPER. 327 00:14:55,000 --> 00:14:56,000 WHETHER IN AUSTRALIA OR THE 328 00:14:56,000 --> 00:14:57,000 PHILIPPINES OR SINGAPORE, OUR 329 00:14:57,000 --> 00:14:58,000 DEFENSE BUDGETS REFLECT OUR 330 00:14:58,000 --> 00:14:59,000 COMMITMENT TO THINGS LIKE 331 00:14:59,000 --> 00:15:02,000 MARITIME SECURITY IN THE REGION. 332 00:15:02,000 --> 00:15:05,000 THE CONTINUING EFFORTS AROUND 333 00:15:05,000 --> 00:15:07,000 BUILDING THE EAST ASIA SUMMIT 334 00:15:07,000 --> 00:15:10,000 ARCHITECTURE MEANS THERE IS 335 00:15:10,000 --> 00:15:15,000 DAY-TO-DAY ATTENTION AROUND A 336 00:15:15,000 --> 00:15:20,000 BUNCH OF ISSUES WHETHER IT'S 337 00:15:20,000 --> 00:15:21,000 DISASTER RELIEF OR PUBLIC HEALTH 338 00:15:21,000 --> 00:15:25,000 OR COUNTERTERRORISM. 339 00:15:25,000 --> 00:15:29,000 THERE ARE CONSULTATIONS TODAY 340 00:15:29,000 --> 00:15:30,000 THAT WEREN'T TAKING PLACE EIGHT 341 00:15:30,000 --> 00:15:35,000 YEARS AGO. 342 00:15:41,000 --> 00:15:42,000 ON EVERY DIMENSION, WE ARE A 343 00:15:42,000 --> 00:15:43,000 MUCH STRONGER POSITION TO 344 00:15:43,000 --> 00:15:48,000 ENGAGE, INFLUENCE, AND LEARN 345 00:15:49,000 --> 00:15:54,000 FROM OUR ASIA-PACIFIC PARTNERS. 346 00:15:57,000 --> 00:15:58,000 THE THING I ENJOYED MOST WAS OUR 347 00:15:58,000 --> 00:15:59,000 YOUNG SOUTHEAST ASIAN LEADERS 348 00:15:59,000 --> 00:16:01,000 PROGRAM. 349 00:16:01,000 --> 00:16:03,000 WHENEVER I MEET WITH THE YOUNG 350 00:16:03,000 --> 00:16:06,000 PEOPLE, I AM INSPIRED. 351 00:16:06,000 --> 00:16:09,000 IT MAKES ME VERY OPTIMISTIC 352 00:16:09,000 --> 00:16:14,000 ABOUT THE FUTURE AND WHAT'S 353 00:16:14,000 --> 00:16:19,000 GOING TO HAPPEN. 354 00:16:22,000 --> 00:16:24,000 IF YOU ASK THEM ABOUT THE FUTURE 355 00:16:24,000 --> 00:16:25,000 THEY WANT TO SEE, THEY ARE VERY 356 00:16:25,000 --> 00:16:26,000 MUCH COMMITTED TO AN 357 00:16:26,000 --> 00:16:29,000 INTERDEPENDENT WORLD, A WORLD IN 358 00:16:29,000 --> 00:16:32,000 WHICH PEOPLE ARE LEARNING AND 359 00:16:32,000 --> 00:16:35,000 EXCHANGING IDEAS AND ENGAGED IN 360 00:16:35,000 --> 00:16:36,000 SCIENTIFIC AND EDUCATIONAL 361 00:16:36,000 --> 00:16:37,000 EXCHANGE. 362 00:16:37,000 --> 00:16:40,000 AND A WORLD IN WHICH PEOPLE'S 363 00:16:40,000 --> 00:16:43,000 DIFFERENT CULTURES AND 364 00:16:43,000 --> 00:16:46,000 BACKGROUNDS ARE A SOURCE OF 365 00:16:46,000 --> 00:16:49,000 ASENGTH AND COOPERATION 366 00:16:49,000 --> 00:16:52,000 OPPOSED TO CONFLICT AND FEAR. 367 00:16:52,000 --> 00:16:54,000 AND THAT IS TRUE IN SOUTHEAST 368 00:16:54,000 --> 00:16:58,000 ASIA, IN AFRICA, LATIN AMERICA. 369 00:16:58,000 --> 00:17:02,000 THAT'S TRUE IN EUROPE. 370 00:17:02,000 --> 00:17:05,000 LOT OF THIS FEAR, THE CHOICE 371 00:17:05,000 --> 00:17:06,000 THAT WAS POSED BY PRIME MINISTER 372 00:17:06,000 --> 00:17:11,000 THAT ISELF-SUFFICIENCY 373 00:17:11,000 --> 00:17:12,000 NOT ACHIEVABLE AND ULTIMATELY 374 00:17:12,000 --> 00:17:16,000 RIVALRY AND CONFLICT, THOSE WHO 375 00:17:16,000 --> 00:17:21,000 OPT FOR RIVALRY ARE FOLKS WHO 376 00:17:21,000 --> 00:17:23,000 ARE LOOKING BACKWARDS. 377 00:17:23,000 --> 00:17:24,000 YOU TALK TO YOUNG PEOPLE AROUND 378 00:17:24,000 --> 00:17:27,000 THE WORLD, THEY UNDERSTAND 379 00:17:27,000 --> 00:17:29,000 INTERDEPENDENCE IS THE WAY WE 380 00:17:29,000 --> 00:17:31,000 ARE GOING TO ASSURE PEACE AND 381 00:17:31,000 --> 00:17:33,000 PROSPERITY FOR ALL OF US, FOR 382 00:17:33,000 --> 00:17:36,000 YEARS TO COME. 383 00:17:36,000 --> 00:17:40,000 THATAT MAY BE THE THING 384 00:17:40,000 --> 00:17:42,000 HAS SOME OF THE MOST LASTING 385 00:17:42,000 --> 00:17:45,000 IMPACT. 386 00:17:45,000 --> 00:17:46,000 THERE ARE SOME FUTURE PRIME 387 00:17:46,000 --> 00:17:48,000 MINISTERS AND PRESIDENTS AND 388 00:17:48,000 --> 00:17:52,000 BUSINESS LEADERSND NONPROFIT 389 00:17:52,000 --> 00:17:55,000 LEADERS THAT ARE GOING TO DO GREAT THINGS AND I'M GLAD TO 390 00:17:55,000 --> 00:17:56,000 HAVE PLAYED A SMALL PART IN THAT. 391 00:17:56,000 --> 00:17:59,000 >> THANK YOU.