The Russian drama began at the end of 1991, when the Soviet Union mercifully ended. Russia and 14 other new countries emerged from the ruins of the Soviet Union. Every one of those 15 new states faced a profound historical, economic, financial, social and political challenge.

Globalization was a deep trend pushed by technology and right ideas, as much as anything else.

The runs started in Thailand after the IMF intervened in such a dramatic way. Then the IMF came to Indonesia.

America's government is not even aware of the gap between its commitments and action, because almost nobody in authority understands the actions that would be needed to meet the commitments.

Russia has gone through eight years of continuing economic pain.

The essence of Africa's crises is fundamentally it's extreme poverty.

The rich do not have to invest enough in the poorest countries to make them rich; they need to invest enough so that these countries can get their foot on the economic ladder . . . Economic development works. It can be successful. It tends to build on itself. But it must get started.