But as we ponder the best way for Europe to seize the opportunities presented by this rapidly expanding global economy, let's not forget that our industry is about a great deal more than trade. Stories and images are among the principal means by which societies transmit their values and beliefs, from generation to generation, and community to community. As an industry we have developed the creation and marketing of these images to a point at which they confront us, intellectually and emotionally, in every aspect of our daily lives. The development of new digital technologies, offers us the potential to radically alter the way in which moving images are created, communicated, enjoyed, and some would argue even defined. If we fail to use these images as responsibly as we use them creatively, if we treat them simply as so many consumer products, rather than as complex cultural phenomena, then, we are quite likely to irreversibly damage the health and vitality of our own society.
Culture is an essential element of the lifeblood of any nation.
It sustains the conscience and vitality of a society. One measure of any community wishing to regard itself as truly civilised, is the quality and depth of its cultural achievement. It's that which defines our personal and our national identity. In January I attended the World Economic Forum in Davos. American culture is America's biggest export,' she proclaimed, citing the examples of fashion, music and the movies.