The U.S. official cites the example of South Korea. When the first major Internet connections were made available, the majority of Koreans logged onto U.S. Web sites. Instead of overwhelming the national market, numerous local sites sprang up to meet consumer demands. These Korean Web sites are now more popular than the U.S. ones. This local industry grew as a result of an open market, he points out.
Privatization is another issue.
Europe is making progress, but it is not moving quickly, another U.S. official says. Privatization versus national carriers is not an absolute condition for trade liberalization, but it helps, he explains. Low markets have prompted the European Union to take its time, leading to potential conflicts of interest. The EC official notes that both sides have been engaged in market liberalization since 1998. As a result of market regulations, the European Union is now working to remove barriers to its markets by providing services and ensuring competition through laws designed for that purpose, the official adds.