Calling the progress made in rebounding from the “abyss” in the past six months “remarkable,” Lawrence Summers, director of the National Economic Council, said going forward the economy must be geared toward exports.

“We were at the brink of catastrophe at the beginning of the year but we have walked some substantial distance back from the abyss,” Summers said, according to excerpts of a speech released by the White House Friday. “Substantial progress has been made in rescuing the economy from the risk of economic collapse that looked all too real six months ago.”

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