Speech #880035302

Between these outer realities of the developing world and the old. hard. industrial Atlantic core. there could be a new convergence of interestWestern capital. trade and technique going out to build up new centers of production and consumption and. by so doing. bringing about that vast enfranchisement of new consumers which the steadily rising productions of Western.fields and factories demands. All these hints and prospects began to add up to a sustained Western policy to raise the purchasing power and improve the trading outlets of the developing world. In this wayjust as the workers of the West were drawn at last into the mass consumer economythe millions of marginal migrants of Africa and Asia and Latin America would be brought across the threshold of the modern economy. their human needs would be satisfied and they would thus become a permanent factor in sustaining world economy. Any international policy for sustained growthwhether by a concerted 4 percent annual expansion in the Atlantic arena or by a sustained effort to bring the developing continents effectively into the world marketdemands the closest. the most sustained and the most fraternal of relationships between America and Europe. Neither Britain nor the United States can achieve the spurt of growth needed to break from their 21/2 percent tradition of expansion without whorehearted cooperation from the countries of the Common Market.