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we sat down with robert zoellick to talk about the markets, trade, and the risk to recovery. >> concerns in emerging markets have surfaced recently. we're seeing volatility in markets, currencies. how do you characterize the global economy today? >> we're seeing the intersection of two trends. one, is in the aftermath of the great recession we're still five or six years into recovery pattern. and we're dealing with some of the issues of remedies for the great recession, so, some of the monetary policies and others, whether you deal with tapering in the united states, or eventually the third arrow, structural reforms in japan, on the monetary policies. but at the same time, you have the need for structural reforms. and those are a longer-term. one way from a market perspective you could describe this is i think people are now reassessing risk. last year the markets rose with expansion of monetary policy, you had a big increase in equity prices in japan, and in the united states. now people know that's going to slow, so they're evaluating the risk characters of countries, sectors and compa

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