SPEECH Wayne Speaks About Role of Economics in Foreign Policy By Amanda McGrath Hoya Staff Writer

Tim Llewellyn/The Hoya Assistant Secretary of State for Economic and Business Affairs Earl Anthony Wayne speaks to students in ICC Tuesday.

With a focus on global interdependence and international organizations, Assistant Secretary of State for Economic and Business Affairs Earl Anthony Wayne spoke before a group of Georgetown students Tuesday about the role of economics in U.S. foreign policy.

In a speech sponsored by the Delta Phi Epsilon Foreign Service Sorority, Wayne discussed the growing importance of economics in international affairs. He drew from his experience in his current position with the State Department, as well as his extensive work as a Foreign Service Officer, to explain the influence of trade, investment and economic policy in world politics.

Wayne noted that the State Department began to realize the importance of economic policy over the years.

“It wasn’t enough to get the politics right . we had to pay more attention to economics and to the U.S. becoming more connected to the rest of the world,” Wayne said.

He also commented that the recent terrorist attacks on the U.S. only reinforce the idea that the world is becoming more interconnected.

“The U.S. is no longer an isolated place in the world; Sept. 11 showed us that,” he said.

A key part of the current war on terrorism, Wayne said, is to identify, block and disrupt the financial flow to terrorist organizations. The State Department is working with intelligence agencies and other countries to establish cooperative networks to inhibit monetary support to such groups.

Wayne also noted, however, that international support is not guaranteed. “Everybody doesn’t always agree on who everyone else’s terrorist is,” he said.

Democracy and stability are key elements to strengthening world economic systems because they encourage fair trade and international investment, according to Wayne. “Democracy doesn’t necessarily come with trade, but it encourages it,” Wayne said. “Desire to trade encourages people to do the right thing in good governments . money is not going to go somewhere it feels unsafe.”

Statistically, he said, exports account for roughly 11 percent of the Gross Domestic Product, a figure that is expected to continue to grow in the future. One fifth of U.S. manufacturing jobs depend on exportation, and one third of American farmland is planted with the intent to export to other countries.

Wayne discussed the relationship between the U.S. and international organizations such as the European Union and the World Trade Organization. China’s desire to enter the WTO, he said, was helping to bring about positive reforms in the country’s trade policy, but that the U.S. “will be watching what they do.”

A question and answer session following his remarks led to discussions on topics ranging from economic sanctions in Iraq to the controversy over genetically-modified food products. European countries have a greater opposition to such food products and the importation of genetically-modified goods from the US has caused an international stir. “There is a clash of popular perceptions on both sides of the Atlantic … it is a long-term issue,” Wayne said.

Andrea Trujillo, co-chair of events for the sorority, said she found Wayne’s presentation very informative.

“It addressed a lot of issues I wasn’t aware of. It was very timely, especially his comments on the post-Sept. 11 situation,” she said.

Trujillo said the sorority tries to offer a diverse array of speakers each year.

“We thought it would be nice to represent as many different perspectives on international affairs as possible. It’s a good way to get the sisters to talk with experts in the field,” she said.