The Clinton Administration's first principle of electronic commerce is that the private sector should lead. We have made great progress in committing to that path. May. It linked 47 rural communities nationwide with counterparts in Latin America, producing business opportunities for both sides. The President also has directed the Secretary of Commerce, William Daley, and the Administrator of the Small Business Administration to find other ways to help small business participate in electronic commerce. For all we've done, we must do more.
Many people are still reluctant to shop on-line for fear of being cheated.
At the same time, it must provide enough unfettered room for incentives to compete. In fact, that is a good axiom to apply to all of our hemispheric trade. The embrace of democratic and free market principles during this decade has made Latin America the hottest market for U.S. companies. At the Department of Commerce, we are increasing our resources for the Americas, so that U.S. firms can increase their participation in this dynamic market. As promising as are these trends, the Western Hemisphere has not escaped the troubles that have visited the rest of the world.