Arthur Lewis Quotes

America's role in the global economy inevitably was going to diminish; we're smaller relative to - as China, India, other emerging markets grow.

In a system of free trade and free markets poor countries - and poor people - are not poor because others are rich. Indeed, if others became less rich the poor would in all probability become still poorer.

It's well proved economics that if a country which is rich and a country that is poor come together in global trade, sooner or later the standard of living of the poor country will go up towards that of the rich country.

Global interdependence today means that economic disasters in developing countries could create a backlash on developed countries.

The developing countries must be able to take a more active part in trade negotiations, through technical assistance and support from the developed countries.

Open markets offer the only realistic hope of pulling billions of people in developing countries out of abject poverty, while sustaining prosperity in the industrialized world.

We can pretend that China is not there. But China is there, and unless we put our economy on the right track, it is going to overwhelm us completely.

This is the moment when we must build on the wealth that open markets have created, and share its benefits more equitably. Trade has been a cornerstone of our growth and global development. But we will not be able to sustain this growth if it favors the few, and not the many.

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

We are only 5 percent of the world's population and 20 percent of the world's economy. We have to be able to trade in order to grow.

We all have to think about the emerging markets.

Given that trade benefited the Asian economies on the way up, it seems natural that the slowdown in global trade, whatever its causes, could lead to some loss of dynamism and growth in the region.

We understand that America's prosperity is bound up with the prosperity of other nations, including emerging market nations.

The inability of middle-class people to receive loans in developing countries has had a stifling effect on economic growth and prosperity around the globe.

Engineers in the developed world should be arguing not for protectionism but for trade agreements that seek to establish rules that result in a real rise in living standards. This will ensure that outsourcing is a positive force in the developing nation's economy and not an exploitative one.

That level of trade deficit throttles real growth in our country and continues the unfortunate path of selling out America. We are not winning the global trade war, we are losing it badly.

The global realignment is accelerating the migration of growth and wealth dynamics from the industrial world to the larger emerging economies.

Our society is intertwined with the economy that we've built, which is a fantastically complex system. I hope that my writing about it might do some good, but that's not why I do it.

The accumulation of skill and science which has been directed to diminish the difficulty of producing manufactured goods, has not been beneficial to that country alone in which it is concentrated; distant kingdoms have participated in its advantages.

The United States is going to be a rich country, it is going to be prosperous, but it is not going to be able to take the lead in the next phase of global economic development.

The basic idea was that if a country would put its economy as an integrated piece of the world system, that it would benefit from that with economic growth. I concur with that basic view.

The rest of the world needs the US economy and financial system to recover in order for it to revive. We remain at the center of global economic activity with financial and trade ties to every region of the globe.

The fact of the matter is that instead of going around the world and haranguing countries for engaging with China, the West should be encouraging its own businesses to trade and invest in these regions.

It's good for America when the rest of the world grows, because you can sell more to the rest of the world.

The United States basically accepted protection abroad as the price of post-war recovery. Now, that these countries have caught up to our level of prosperity, it is time for them to catch up to our level of openness.