In this paper we introduce the concept of universal stabilizability: the condition that every solution of a nonlinear system can be globally stabilized. We give sufficient conditions in terms of the existence of a control contraction metric, which can be found by solving a pointwise linear matrix inequality. Extensions to approximate optimal control are straightforward. The conditions we give are necessary and sufficient for linear systems and certain classes of nonlinear systems, and have interesting connections to the theory of control Lyapunov functions.