If EU and the U.S. can show that we want to open markets and resist protectionism even in this moment of crisis, it will send a powerful signal to the rest of the world about the continuing strength of the international economic order.

To alleviate Russian and other key players' concerns, the U.S. must give them reason to think otherwise. One essential first step to change their opinions would be for the U.S. to re-establish itself as a principled leader on human rights issues in the region, vis-à-vis action in Bahrain.

As governments worldwide face shrinking budgets and growing economic challenges, tolling is quickly becoming a powerful infrastructure funding tool not only here in the United States, but also in Europe.

If history is any guide, progress on workplace standards in Bangladesh and in other developing countries will be difficult to achieve and slow in coming.

Informal sectors jobs would be instrumental in providing opportunities for growing young population in Africa. That's why, Devarajan said, countries should understand that "informal is normal."