Robert Hormats, vice chairman of Goldman Sachs (International), was a “sherpa” for the first eight G-7 economic summits, during the Ford, Carter, and Reagan administrations. A former assistant secretary of state and deputy US trade representative, he is the author of the recent book The Price of Liberty: Paying for America’s Wars from the Revolution to the War on Terror.
The financial crisis of 2008—and the breathtaking rapidity with which it has spread—has brought home how truly interconnected world economies and markets have become. It has also underscored the need for the world’s economic policy makers to establish better ways of working together across borders.
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