On facing competitors. There is a logical evolution of competitors. Every five years there's another set of competitors. We have to have healthy paranoia, so we worry about everything imaginable. We've been in China for 21 years and have always been comfortable and No. 1. Most of our competitors in the future will be in Asia. Today, Dell is our toughest competitor. But we are very good at competition.

On Cisco's new focus on emerging markets in 129 countries. We'll sell architectures and systems in emerging markets, as opposed to products, and we'll work with the countries' leaders to drive the success of [that] country, because the success of the country is success for us. Emerging markets are now 10 percent of our revenues and represent 30 percent to 45 percent of our future growth. That's how strategic this market is.

The Internet knows no boundaries, and there's no idea of gender, race or class. We are attempting to be the first truly global citizen. That's what the Internet is all about. Our goal is to be in every country, and the Internet can be the equalizer. Every person should have access to the Internet. We are already in 164 countries with network academies, often bringing the academies in before we conduct other business, working with the United Nations and the World Health Organization to determine how to be effective. Corporate citizenship is the obligation of most successful companies to give back, but it's also just plain good business.

My vision is very simple. You will be able to get access to any information in any format anywhere in the world over any combination of networks. I think the network can change the world. It's not perfect, just like education's not perfect, but it's one of the equalizers.

On the possibility of partnering with Nortel Networks and other direct competitors. I have a lot of respect for Nortel. With all the Internet networking providers we compete aggressively [for] customers, but privately, we have a lot in common [with Nortel], and that's partly because the Internet is so open. I know the leaders of these companies personally, all of them. We work on issues of common interest, such as how to treat stock options and broadband growth, which is a national priority. We've been open with Lucent, Alcatel, Siemens and Nortel.