Meaning: The quote provided by Barack Obama emphasizes the need to ensure that the benefits of open markets and trade are distributed more equitably. It reflects a commitment to addressing the inequalities that can arise from economic growth and trade, and the importance of ensuring that these processes benefit a larger portion of the population. This quote is particularly relevant in the context of globalization, as it raises important questions about the distribution of wealth and the impact of trade on different segments of society.

The first part of the quote, "This is the moment when we must build on the wealth that open markets have created, and share its benefits more equitably," highlights the recognition of the wealth and prosperity that open markets and trade have generated. It acknowledges the positive impact of open markets on economic growth, innovation, and global development. However, it also emphasizes the need to go beyond simply creating wealth and focus on ensuring that the benefits are distributed more fairly and inclusively.

The statement, "Trade has been a cornerstone of our growth and global development," underscores the significance of trade in driving economic progress and fostering global interconnectedness. Throughout history, trade has played a crucial role in driving economic development, facilitating cultural exchange, and promoting cooperation among nations. It has been instrumental in lifting millions of people out of poverty and driving technological advancements and innovation.

The quote continues, "But we will not be able to sustain this growth if it favors the few, and not the many," highlighting a critical concern about the unequal distribution of the benefits of trade and economic growth. This raises important questions about the potential for wealth and opportunity to become concentrated in the hands of a privileged few, leaving the majority of the population behind. It underscores the need for policies and mechanisms to ensure that the benefits of trade and economic growth are more broadly shared and accessible to a larger portion of society.

Finally, the quote concludes with, "by Barack Obama President," attributing the statement to Barack Obama, who served as the 44th President of the United States from 2009 to 2017. As a prominent political figure, Obama's words carry weight and significance, especially in the realm of economic policy and global trade. During his presidency, Obama's administration prioritized issues related to economic inequality, trade policy, and global development, making this quote a reflection of his administration's stance on these critical matters.

In summary, this quote by Barack Obama underscores the importance of ensuring that the benefits of open markets and trade are shared more equitably. It reflects a recognition of the positive impact of trade on global development and economic growth, while also emphasizing the need to address the challenges of inequality and ensure that the benefits of trade and economic prosperity are accessible to a larger portion of society. This quote encapsulates the broader discourse on the role of trade in driving economic progress and the imperative of promoting inclusive and sustainable development.