We cannot just look at a country by looking at charts, graphs, and modelling the economy. Behind the numbers there are people.

It so happens that because all the economies are strongly inter-connected and aggregated, there is trade that is happening not just from China to the rest of the world, but from the rest of the world to China as well, and that is going to continue.

If inflation is the genie, then deflation is the ogre that must be fought decisively.

People can buy the kind of things they consider as normal and take for granted because of globalization and trade and use of supply chains and the reduction of the cost base of the manufacturing of some products.

If climate change issues are not adequately addressed—if we keep running those nice energy subsidies, if the price on carbon is not adequately set, if policymakers don’t have it on their radar screens—then financial stability in the medium and long-term is clearly at stake.

When you think of a safe and solid arbitration place, you think of Switzerland, Sweden, Canada. Those attributes may be associated with clichés, but I think they resonate with a lot of people and they are a solid base for Canada to co-operate and help others.

We draw many benefits from globalization that people take for granted. Poverty has been reduced massively around the world. If you look at the Chinese numbers, it is quite mind-boggling: 700 million people taken out of poverty in a matter of 40 years, the poverty rate having moved from over 30 per cent from hardly six per cent now. That would not have happened if there had not been globalization.