Delivering the keynote address at the Export-Import Bank Conference in Washington, D.C. on Friday, Vice President Joe Biden called for the creation of a “new world order” for improvement of the economy and international business relations.
“The affirmative task we have now,” Biden said, “is to create a new world order, because the global order is changing again, and the institutions of the world worked so well in the post-World War II era for decades, they need to be strengthened, and some need to be changed.”
“So we have to do what we do best, we have to lead,” the vice president continued. “We have to update the global rules of the road, we have to do it in a way that maximizes benefits for everyone, because obviously, it’s overwhelmingly in our interests. This is not a zero sum game, it’s overwhelming our interest, that China prosper, that Mongolia prosper, that nations big and large, East and West (prosper). We have to level the playing field so that companies and workers can compete in the world, that the competition is fair and it’s healthy.”
Biden’s call for a “new world order” reflects what many politicians have said in the past. The phrase was used throughout the 20th century but entered the popular lexicon after President George H.W. Bush began to use it. After Iraq invaded Kuwait, Bush gave a speech to a joint session of Congress on Sept. 11, 1990