And therein lies the central truth of globalization today: We’re all connected and nobody is in charge.
...
The real and sustained bailout from the crisis will happen when the strong companies buy the weak ones — on a global basis. It’s starting. ... And, once the smoke clears, I suspect we will find ourselves living in a world of globalization on steroids — a world in which key global economies are more intimately tied together than ever before.
It will be a world in which America will not be able to scratch its ear, let alone roll over in bed, without thinking about the impact on other countries and economies. And it will be a world in which multilateral diplomacy and regulation will no longer be a choice. It will be a reality and a necessity. We are all partners now.
