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Commanding Heights: The Battle for the World Economy

NARRATOR: Globalization did not cause global poverty, but it did make us more aware of it. And by creating a single global market, it raised the question of how that market benefits the world's poorest nations.

DANIEL YERGIN: We are seeing around the world a movement towards greater reliance on markets, greater confidence in markets. But for that confidence to last it has to be seen that these markets are fair, that they are delivering the benefits widely, that people are benefiting from them. And if they don't have that kind of legitimacy, then the confidence is not going to remain, and the markets will be vulnerable to disruption and be replaced by other kinds of controls. So every day the market has to earn and prove its legitimacy, and that's a big test, particularly in the developing world, where the number-one issue, the central preoccupational concern, is the issue of poverty, and delivering the goods means lifting people out of poverty. And that more than anything else is what these markets would be judged by.

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