Globalization and the Latin perspective (with reference to Las Meninas)

Remarks at the Central Bank of Argentina, Buenos Aires, April 19, 2006 ; "My business contacts talk and act as if the globalization now under way will bring another decade of intense competition. This hothouse will enable--perhaps even force--businesses to keep productivity growth in the range we have enjoyed since the mid-1990s--hopefully, for many years to come. If labor productivity growth can stay near 3 percent, monetary policy can accommodate relatively faster growth without igniting inflation."