We have just completed a gruelling round of multilateral trade negotiations. We now have to implement the results and get the new World Trade Organization up and running. We want the G-7 in Halifax to provide leadership on the need for cooperation between the WTO and other international economic institutions. My Summit colleagues agree on the need to expand trade liberalization. We still have unfinished business, especially in the fields of telecommunications, financial services, investment and competition policies.
Trade is just one aspect of the new global economy.
They have changed the way the world does business. Capital flows from one point on the globe to another in moments. Decisions can be made quickly and the impact felt immediately. One result is a constant, surging flow of private capital. In many ways that can be a very good thing.