This dynamic new economy is very unforgiving, and European leaders need to always be aware of that fact. We expect this wireless unit to be spun off, and to expand its operations to other parts of Asia. Recent hostile moves between Singapore and Hong Kong telecoms are just the signs of things to come-acquisitions and mergers across boundaries. India's software industry has had a spectacular run in the past few years, and we expect more to come. Companies like Infosys Technologies, and Satyam have opened the door for many Indian software companies to tap the rich North American capital markets.
Technology components manufacturers in the region are going to enjoy a very strong year.
Cellular and wireless handheld device manufacturers, memory chip manufacturers are just a few in this category that will enjoy a boom as the Internet and flexible access demand around the world continue to increase. We expect tremendous growth in the Telecommunications sector. These companies will become some of the most prized companies in months to come. Argentina, Brazil, Chile, and Mexico will be the stars for the region. Mexico's energy sector will also enjoy a robust growth.