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Rich countries can afford to overpay for things.

I think every country has to recognize its competitive advantage and liberate its strengths to be a partner in global trade, and that's the only way you can survive and succeed.

As an economist, I'm aware that life is full of trade offs.

Every country has their problems.

Too many countries that do not play by the free trade rules of the World Trade Organization - including, notably mercantilist China and monopolist Saudi Arabia - have been allowed in, to the detriment of both the WTO and the liberal trading environment it is supposed to sponsor.

Our trade opens to all the world.

Nonetheless, the developing countries must be able to reap the benefits of international trade.

Countries only have certain opportunities in history, and if you do not take advantage of them, those opportunities don't ever come back to you again.

Foreign trade clearly holds down the cost of products we buy.

While other countries have been securing large export deals, American companies have been placed at a competitive disadvantage - forced to compete globally with one hand tied behind their back.