Globalization has been very good to Corporate America.

The resistance to globalization has a new quality today. You have populist leaders in developing countries who are empowered by high oil prices and you have a protectionist climate in the rich countries. The two trends reinforce each other and could slow globalization.

The baton of global consumption is being passed from the U.S. consumer base to the millions of consumers in developing nations.

The good news related to the health-care sector is obviously helping.

We see good prospects going down the road.

The lifestyle effects of this demographic shift will become key drivers of demand.