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The Industrial Revolution caused a centuries-long shift in power to the West; globalization is now shifting the balance again.

So, there is enormous instability in the global economy with a shift of winners and losers.

The world is poised on the cusp of an economic and cultural shift as dramatic as that of the Industrial Revolution.

There is a huge shift taking place in the global awareness in the last 5 years with strong views about globalization and the power structures of major corporations.

The way the world is going, it's technology driven. And it isn't just driven by the old super powers, it's driven by the far east and new emerging economies.

We're grappling with the same issue facing all advanced economies - how to revive growth and distribute its fruits more fairly. An America that can tackle that problem head-on can perhaps help revive a stagnant global economy.

Globalization has redefined the competition for employment and incomes in the United States. Tradeoffs will have to be made between the two.

This world is clearly emerging before our eyes. The shifts ahead, the opportunities ahead are massive.

The increased global linkages promote economic growth in the world through two key mechanisms: the division of labor and the international spillovers of knowledge.

There is going to be globalization, but we need to do it under terms - under rules that work as rules work for our domestic economy on the dynamic of capitalism. You need to do trade in the same way.