That is really reflective of the globalization phenomenon.

The benefit of that is it opens up our labor force to be groomed for higher-level jobs.

We need to make sure those wages are a real livable wage. Because otherwise the wealth in your region doesn't increase, it actually decreases. And you don't want to keep people poor.

The basic problem that we confront is given that the advantages [of globalization] are so much greater than the deficits, how do we take care of those who are on the wrong side of this process?

Globalization is a fact of life. But I believe we have underestimated its fragility.

We must ensure that the global market is embedded in broadly shared values and practices that reflect global social needs, and that all the world's people share the benefits of globalization.