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"Contagion has become very much a phenomenon, and it's a phenomenon of globalization."
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"It used to be said that when the U.S. sneezed, the world caught a cold. The opposite is equally true today."
"We may freak out globally, but we suffer locally."
"The more worrying feature of the new global corporate structures is their capacity to devastate national labour markets by transferring their operations to cheaper locations overseas."
"Trade is a communication of cultures and values."
"So the American economy needs the world, and the world needs the American economy."
"Today in the era of globalization there is no such issue as borders between states of the same nation."
"It says something about this new global economy that USA Today now reports every morning on the day's events in Asian markets."
"Globalisation makes it clear that social responsibility is required not only of governments, but of companies and individuals. All sources must interact in order to reach the MDGs."
"The world is getting so small. Young people are mobile; they want to travel around the world. When you travel around the world, you exchange culture, you want to make friends, you want to exchange things."
"Russia should support globalization. The Internet can develop in Russia in a very speedy way."
Explore more quotes by Lawrence Summers
"There are children who are working in textile businesses in Asia who would be prostitutes on the streets if they did not have those jobs."
"I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to it."
"But ultimately what I was impressed by during my years in government was how much the intellectual climate and the prevailing intellectual notions constrained and represented the universe within which the discourse took place."
"It certainly was difficult to sell NAFTA because it's always difficult to sell open markets."
"If you look at the history of the American capital market, there's probably no innovation more important than the idea of generally accepted accountancy principles."
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