Sergei Lavrov

When you buy a company at an auction, and you are committing yourself to pay some $300 million to the state because it was a privatization deal, and you don't pay it, is it OK? Isn't it something that deserves court procedures?

The Russian Federation and the United States of America, the two biggest nuclear powers in the world, but apart from nuclear-wise, we have a lot in common. We have huge territories, natural resources, technologies, science, education, and of course human capital.

We feel no isolation. But, having said that, I want to emphasise in particular that we do not want to go to extremes and abandon the European and American directions in our foreign economic cooperation.

Long-term unemployment is particularly costly to those directly affected, of course. But in addition, because of its negative effects on workers' skills and attachment to the labor force, long-term unemployment may ultimately reduce the productive capacity of our economy.

Engineers in the developed world should be arguing not for protectionism but for trade agreements that seek to establish rules that result in a real rise in living standards. This will ensure that outsourcing is a positive force in the developing nation's economy and not an exploitative one.