In other words, they are not necessarily going to buy into everything that the United States thinks is just the way to go. But part of the problem is that if the developing countries wish to attract capital, they cannot afford to have unstable institutional arrangements, because the capital simply won t come. Non-discrimination against foreign investment, repatriation of capital, transparency, good accountability, a taxation system that is predictable. The right to have access in the courts, to be able to press rights. The rule of law firmly established.
People talk about victims of globalization.
I think most of the talk about victims has come from within our own OECD community. Because globalization has forced major adjustments upon us. We have these high unemployment numbers in Europe. But the reality is that Europe had, the last time I looked, something like 12 or 13 manufacturers of diesel locomotives, and the United States has two. Once you have a process of globalisation in specific markets, adjustments of this sort take place.