WASHINGTON (Sputnik) — Increased economic cooperation and business investment among nations reduces the likelihood of violence and conflict, President Barack Obama told business leaders at the SelectUSA Summit in Washington, DC on Monday.
"[T]he ability for us to trade and do business and to integrate our companies and people learning from each other and innovation-spreading and connecting the globe, promises, prosperity and reductions in poverty and — ultimately — less likelihood of war and violence and conflict," Obama stated.
Despite growing concerns about increased economic inequality, Obama claimed that globalization would reduce poverty worldwide and advance the world’s economies.
Obama established SelectUSA in 2011 as a US federal effort to bring job-creating investments to the United States and promote the country as the world’s best location for business, according to the White House.
