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CNN Live At Daybreak

G8 Summit: Protesters Expected to Make Their Voices Heard

Aired July 20, 2001 - 08:26   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
COLLEEN MCEDWARDS, CNN ANCHOR: World leaders are in Genoa, Italy for the annual summit meeting of the Group of Eight industrial nations. And as we mentioned earlier, police are already firing tear gas at some demonstrators who are there.

Our senior White House correspondent John King is there as well and joins us now -- John.

JOHN KING, CNN SR. WHITE HOUSE CORRESPONDENT: There as well, Colleen, and inside the security parameter.

So it is relatively calm -- and here, indeed, this portion of Genoa a virtual ghost town, evacuated so that the leaders of the seven largest industrialized nations -- including President Bush, of course -- can meet here today to discuss the global economy.

The president of Russia will join those discussions later as well to discuss economic and security issues. Now, Mr. Bush coming here at a time of a slowdown in the U.S. economy, as well as a slowdown in Europe. Japan has been in or near a recession for about 10 years now -- so a great deal of concern about the state of the global economy as these industrialized leaders gather here today -- Mr. Bush arriving a short time ago, saying that he will make the case that he is doing his part back in the United States by getting that tax cut through the U.S. Congress.

He'll also make the case that the Federal Reserve has indicated it is willing and ready to cut interest rates yet again if the Federal Reserve believes that's necessary to keep the U.S. economy going.

Now, security tight here because tens of thousands of protesters around the summit site, many of them opposed to more global trade -- they believe global trade exploits less developed countries, exploits low-wage workers -- but Mr. Bush coming to this meeting making the case that he believes the best way not only to help the big industrialized countries, but also to alleviate disease and poverty in poorer countries, is for more trade.

(BEGIN VIDEO CLIP)

GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: There are some who will try to disrupt the meetings, claiming they represent the poor. To those folks, I say, instead of embracing policies that represent the poor, you embrace policies that lock poor people into poverty. And that's unacceptable to the United States.

Trade has been the best avenue for economic growth for all countries. And I reject the isolationism and protectionism that dominates those who will try to disrupt the meetings in Genoa.

(END VIDEO CLIP)

KING: Now, the leaders will also commit themselves today to a new international fund to combat AIDS, particularly in Africa -- many activists saying that money is welcome, but they believe it is too little.

And they're already critical of the U.S. administration for committing what they say is a relatively modest $200 million to the start-up of that fund. And on the sidelines -- this meeting is an economic club -- but on the sidelines, Mr. Bush also to face more tough questions about his views on global warming and missile defense -- the European allies and the Russians quite skeptical -- the Russians, especially, because of the issue of missile defense -- Colleen.

MCEDWARDS: All right, CNN's John King, in Genoa, Italy for us this morning, thanks very much.

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