Ladies and gentlemen, the President of the United States and Mrs. Reagan. The LEDs have seen 50, 60 or 70 years of intense wear and tear and are simply worn out. We have plans to build or upgrade six inner-city YMCA's so that we can properly serve the people who need us the most. And our capital goal is $38.2 million. Last week we had the grand opening of the South Chicago YMCA, which is a fine example of the renovation and modernization of an older structure. This building houses 110 senior citizens and boasts a complete renovated program area for people of all ages. In the lobby, on opening day, there were senior citizens who live in the apartments, mothers bringing their children to the daycare center, along with swimmers and weightlifters. Few organizations reach such a diverse group of people. If you'll look on the wall, please, in March 1981, the new city YMCA at North and Halstead was open. It's the first... Thank you very much. Thank you. No, please. Thank you. And if you haven't finished this delicious lunch or dessert while you keep right on going, and I'll just talk over you. Nancy and I, I'm sure you know how thrilling this is for us to be back here in home territory. I once said that the roots go very deep in the blue-black soil of Illinois prairies. We're delighted to be here, and I thank you for that fine welcome. Somebody did quite a research job, though to find a picture of me in the Dixon YMCA Band. This should lay to rest the rumor that photography had yet to be invented when I was that age. Seriously, I recall those days with pleasure. Dixon, a small town, and back then the entire community got behind projects like the YMCA Band. My family didn't have any extra money, so I've always been grateful for the wonderful times such programs provided me. Something I didn't understand as a kid was the part our neighbors and other good folks in Dixon played in that band. The mechanic down the street, the shopkeeper, the telephone man, they realized that they had to do their part if our little town was to be a decent place. So they got involved and they contributed the money, and when they didn't have that, they gave of their time. So the kids in our town would have a YMCA Band. The gentleman in the dark coat up there was a teacher, and he was the one who conceived the idea and literally single-handedly brought it before the town, and there weren't school bands in those days, and so that was the band. But that's the kind of spirit America stood for back in those days. It's the kind of spirit that all of you stand for today. Come to think of it, that band was my first real experience in entertainment. I remember one day when we went to a nearby, even smaller town for Memorial Day to lead the parade, and the gentleman who was the parade marshal on a white horse, as we started galloped back down the line to make sure everyone was joining in and coming along, and we were leading, and I was the drum major and waving my baton, and suddenly I thought the music was sounding fainter, and I looked over my shoulder and found that he'd come back up to the head of the parade in time to get the band turned to the corner. I was going down the street all by myself. So I cut across corners and got in front of him again. I'm still trying to do that with the Congress. But I might have been too young to express my appreciation to all my good neighbors back then, but not now. So if you will, I hope you'll accept the thanks from me not only for what the YMCA provided in Dixon, but for all those many young people, most of whom you'll never know, but all of whom will live happier and healthier lives because of the efforts that you're putting forth to make this the kind of city, the kind of country that we believe it should be. And if one of the kids you're helping along grows up to be president someday, I can assure you that he'll think back and realize how much he owes to good people like you. The character of the American people is our country's most precious asset, and like any asset, it should never be taken for granted. In the months preceding the 1980 election, the values of which I'm speaking and the viability of some of our most cherished institutions, I believe were under attack as never before. Inflation, high taxes, and economic instability were taking a heavy toll on things which most Americans had always taken for granted. Our savings rate slipped to the lowest level of any major industrialized nation instead of long run job producing investment. Money was being channeled into inflation hedges and tax shelters that made little contribution to the economic strength of the country. The quick deal, the fast buck were rapidly becoming the order of the day. Inflation was ripping our country apart. Federal taxes were draining the potential for growth and progress out of the private sector. Interest rates, as we know, shot sky high to 21.5% in December of 1980. This is what we confronted upon entering office 16 months ago. Our people cried out for a change of direction. Above all, if we were to recapture the spirit of vigor, optimism, and brotherhood that was once the hallmark of our country, America needed to change attitudes. One of the most damaging attitudes which had developed, one that may be at the heart of our other problems, was the habit of turning to government to solve every problem. It caused unprecedented government growth that threatened our very way of life and brought the harmful side effects I've just described. Over the last decade, federal spending tripled at the same time that defense spending decreased in constant dollars. Federal social spending increased over the last three decades eight times more than prices. Some of the programs established during that spending binge remind me of the preacher who had come to a small hamlet about 100 miles from his own hometown to preach at a revival meeting. Driving into the village, he noticed a man from his own community, a fellow that was rather known for his drinking who was sitting on the front steps of the general store. He stopped his car and he asked the drinker why he was so far from home and was told that beer was five cents a bottle cheaper there. When the minister pointed out the cost of travel back and forth, the price for a hotel room, the beer drinker retorted, I'm not stupid, Reverend. I just sit here and drink till I show a profit. Well, some of the government programs in the last 20 years were ill-conceived, too costly, and turned out to be no better for the poor than that bargain beer. The inflation and economic dislocation resulting from uncontrolled spending and the taxation needed to pay the bill hurt everyone. And the figures back this up. If inflation had kept running at the rate it was prior to or during 1980, a family of four on a fixed income of $15,000 would be over $1,000 poor in purchasing power today. The effect would be the same as having that $15,000 income reduced to $14,000, or put another way, by lowering inflation we gave them a $1,000 raise. In January of 1980, the consumer price index was increasing at an annual rate of 18%. That would have more than doubled prices in five years and devastated our economy. Two years later in January of 1982, the consumer price index went up at a rate of only 3.5%. And in March, it actually fell for the first time in nearly 17 years. It would have been no favor to the poor or anyone else to permit inflation to continue ravaging our country. How many of you remember that it wasn't so long ago that voices of gloom and doom were suggesting it would take a decade to bring inflation under control? There was an unprecedented feeling of pessimism sweeping across the country. For the first time, you could hear the refrain that America's best days are behind us. Well, don't you believe it? This negative thinking is similar to that found in a letter from a high school teacher recently published by a newspaper columnist. Since 1967, the letter says, I have watched sloppy, indolence, sassy, unmotivated students virtually sleepwalk through school. I won't go into detail about the lack of respect for authority or the students that I have seen stoned, spaced out, still drunk on Monday morning. More than once, I've been tempted to accept the label Teacher Burnout and Change Jobs. But then something happened to dramatically alter this teacher's entire perspective. She works in Fort Wayne, Indiana, and a few months ago, they suffered the worst flooding in 69 years. And she writes, like thousands of others, I went downtown to help. And what did I see? Hundreds of students who might have written off as lazy, irresponsible, they had come as volunteers to work in the sandbag lines, haul rubble and trash, help evacuate the elderly and stranded, do whatever needed to be done. Some were even ready to risk their lives if necessary. All those kids had needed, the teacher concluded, was a sense of purpose, and now they had one. Well, I was in Fort Wayne during that flooding, and I can testify to what this teacher is saying. The same is true of young people all across America, and not just the young people either. But I could tell you a few years ago, it was something I wanted to see on a billboard. You were having a problem in California, unnatural high tides, abetted by storms, were destroying beautiful beach homes along the beach, and the television was covering around the clock, the battle to save these homes, sandbag lines again. And it was about two o'clock in the morning, and there was a young teenager just in swimming trunks, and in two o'clock in the morning in California, you can freeze to death. He was wet, he was obviously tired, and one of the commentators of the TV station stopped him as he's hauling another sandbag, asked him, did he live in one of... No, he didn't live in any of those homes. Why was he doing it? And the answer is what should have been on a billboard. He stopped for a minute, kind of puzzled himself, and then he said, well, I guess maybe it's the first time we've ever felt needed. We ought to be able to do better for them than that. Anyone who writes off Americans is making a tragic error. More often than not, our citizens are simply waiting to be asked, and that's one of the reasons why back in October, we created a presidential task force on private action, on private sector initiatives. There are still too many people in the sidelines waiting for a chance to get into the game. This task force is designed to serve as a catalyst for people helping and community-building projects. It's not designed to replace government. The federal government will continue playing a significant role. Federal social spending is still increasing, although admittedly at a less rapid pace than before. The Department of Health and Human Services, for example, will have a budget of $274.2 billion in 1983 when we get that budget passed, and we're going to get it passed. And now that's an 8% or $20 billion increase over 1982. That's $56 billion more than the defense budget. The HHS budget is, in fact, larger than the entire budget of any country in the world except the United States and the Soviet Union. But while maintaining government's commitment to the poor, we want to see if it isn't possible to motivate our people as individuals, as members of churches and clubs, as representatives of corporations, as members of unions and as concerned citizens to do what they can to make this a better country. How? By working together in partnership to meet community needs. This theme of building partnerships is one of the major goals of the task force, and I understand this effort is now running at full throttle. One of the earliest pioneers of this spirit was Benjamin Franklin, the wise old man of the American Revolution. From my part, he's reported to have said, when I am employed in serving and understanding others, I do not look upon myself as offering favors, but rather as paying debts. I have received many kindnesses from my fellow men. I can only return those to their fellow men. And so, let good offices go round and round for mankind is all of a family. Well, Franklin was more than a man of words. He was also a man of deeds. As early as 1727, with a small group of his Philadelphia friends, he formed a mutual improvement society called the Junto. And within a few years, they founded a subscription library for their community, the first of many projects. This was truly a new world, and with it came this new spirit of personal responsibility, unleashing creativity and energy that astounded the world. In the 1830s, Alexis de Tocqueville, a young French intellectual, traveled through our new country recording his observations in his book, Democracy in America. The American way of life captured his imagination, especially the vitality with which our forefathers went about solving problems. You know, there's something strange in the United States, he wrote. He said when individuals see a problem, they walk across the street to a friend or a neighbor, and they tell them of the problem, and they talk about it, and pretty soon a committee is formed. And the next thing you know, they're solving the problem, and then he added to his fellow Frenchman, you won't believe this, but not a single bureaucrat was involved. De Tocqueville noted that wherever at the head of some new undertaking, you see the government in France or a man of rank in England, in the United States, you'll be sure to find an association. Well, the Young Men's Christian Association, although born in England, is exemplary of this tradition that has been so vital to our freedom and well-being. The YMCA, right here in Chicago, is a tremendous example of what can be accomplished. Since 1858 through good times and bad, you've been serving the needs of the people of this city. The first job placement service in Chicago was launched by this YMCA when it was only two years old, back in 1860. In the latter part of the last century, when new immigrants needed a helping hand, the Chicago Y offered Americanization in English classes, not only in its centers, but also in South Chicago steel mills. Later, the National Y loaned six of its professionals, two from Chicago, to help establish the Boy Scouts of America. And I can remember how, at the beginning of World War II, the Y joined with five other agencies to establish the USO. The Chicago Y became the home away from home for thousands of American soldiers and sailors. Today, the YMCA represents the largest voluntary human service agency in the country, a public-private partnership that should serve as a model for others. I understand you've got over 1,100 full-time staffers, over 3,100 part-timers, and more than 10,000 volunteers. The Y has played an indispensable role in this city. Your current undertaking demonstrates that the Y is ready to meet the challenges of the future, aimed at strengthening your city's neighborhoods and offering much-needed services to Chicago's urban population. Every department and agency in the federal government to appoint a personal representative to determine what can be done to promote private sector action and to report the findings to our task force and to the White House. I'm happy to say that we've had tremendous cooperation at the federal level, and there's been significant progress made at the state level as well. Over 20 governors are working with our task force and have taken steps to establish private sector task force in their own states. And today, Governor Thompson informed me that he is announcing today the creation of his own Illinois Statewide Task Force on private sector initiatives. We're discovering heartwarming dedication among our citizens all over the country. The AFL-CIO is a good example. They've demonstrated leadership not only during labor negotiations, but also in organizing a host of worthwhile community projects. The AFL-CIO has a network of 310 full-time labor community service representatives working to address local needs in 196 cities. Some of these representatives are heavily involved in assisting those who've lost jobs because of the current recession. Working people have always demonstrated tremendous responsibility. Approximately 68% of the United Way budget is contributed by individual workers. One-third of all blood donated to the Red Cross comes from union members. And the Scouts tell me that union members represent 25% of the leadership of the Boy Scouts of America. And business is doing its part too. From all areas of the nation, our task force is collecting information about corporations taking the initiative. The success of this effort today is due in a large degree to the contributions of numerous businesses large and small. To be safe, I'll refrain from naming names because I know there just isn't time to acknowledge each of you. But if one person deserves applause for his efforts today, it's your chairman of the Board of Managers, Edward S. Donnell. And corporations don't necessarily have to contribute money. Of the 10 senior staff members on the task force, nine of them are loaned executives whose time is being volunteered by their employers. And this summer, as in the past, many corporations will be taking the lead in providing summer jobs in the private sector for disadvantaged youths. John Feiler, chairman of the National Alliance for Business and a member of the task force tells me that private industry, despite our current economic problems, this summer will provide more jobs to needy kids than ever before. Let me give you just one splendid example of management and union working together. Members of the International Union of Operating Engineers in Philadelphia heard that the Easter Seal Rehabilitation Center badly needed some specialized equipment for severely disabled children. They went to their employer, the Roman Haas Company, and together they cranked out the needed devices professionally built for strength and safety. It's estimated that 2,000 children will benefit from the efforts of these volunteers. America's churches have also been in the forefront of service to the less fortunate. Christ told his disciples that, as ye do unto the least of my brethren, so ye do unto me. The message was clear. You serve God by serving those in need. As late as 1935, in the middle of the Great Depression, a substantial portion of all charity was sponsored by religious institutions. You might think this is just my interpretation, but in the parable of the good Samaritan, the Samaritan, and I think this is the meaning, didn't run into town to look for a government case worker to help the injured pilgrim. He acted directly to do what he could to help himself. We think it'll be good for the soul of this country to encourage people to help one another, to get involved, to take personal responsibility for the well-being of their community and neighbors instead of always leaving this to the bureaucracy. American churches demonstrated this as they rushed forward to aid the throng of refugees entering this country after the Vietnam tragedy. Five religious organizations were responsible for settling two-thirds of the Indochinese refugees who entered the United States. Americans have always been ready to help those in need, whatever country they come from. We can be proud that our citizens through private voluntary organizations like CARE, World Vision, and many other humanitarian associations have helped eliminate suffering, feeding the hungry and treating the sick in every corner of the world. The list goes on and on. The service clubs, Kiwanis, Lions, Rotary, JCs, and others all have a history of community support. And Bill Verity tells me that they're doing even more in response to the challenge of our task force and they're doing it more efficiently and effectively than the federal government ever could. I just wish those who are pessimistic about the future of America could see an overview of this surge of creative and humanitarian action. We believe it should be recognized, encouraged, and promoted. And that's why we established the President's Volunteer Action Awards and brought this year's recipients to the White House. One of those given the award was a man named Bill Sample. Bill was a Philadelphia policeman assigned to a local children's hospital. Pardon me. He saw the desperation, financial and emotional of those with seriously ill children. Originally, he did what he could out of his own pocket and then he established the Sunshine Foundation to get others involved. The Foundation helps with expenses and whenever possible fulfills the child's dream. Sending the little boy or girl to Disneyland or on a boat trip down the Mississippi. Today, the Sunshine Foundation depends on 200 volunteers working in seven chapters in three states and whoever said that cops don't have a heart. A major goal of the task force is to get the word out about good people like Bill Sample. Unfortunately, the news media by and large has been missing the biggest news story of the year. The surge of creative, innovative, problem-solving activity at the local level. I recently met with representatives of 30 of the country's largest broadcasting groups and told them how one station, K-A-K-E-T-V in Wichita, Kansas was able to play a leading role in its own community. The news teams of K-A-K-E focused in on some local problems and then called other cities to find ways that they were able by enlisting support from private sector and partnership efforts to tackle those problems. And after hearing about what K-A-K-E had accomplished the broadcasters enthusiastically endorsed the concept and told me their stations would try to emulate the effort in their own communities. In short, there's much to be done and while no one is capable of doing everything, everyone is capable of doing something. I'd like to close with this thought. During the campaign, I talked about family, neighborhood, work, peace, and freedom. And it wasn't just campaign rhetoric. And I say to you in utmost sincerity, it's time for us to return to some of these basic beliefs. It won't be easy. It'll take commitment, hard work, and perseverance. But how great the results can be. And you in Chicago know the importance of neighborhoods. You were once known as the city of neighborhoods. Well, this project today is a wonderful display of community spirit and support for something that you believe in. Fundamentals like this, which have played such a significant role, cannot be replaced whole horse by federal programs and paid bureaucracy. Thomas Jefferson, the author of Liberty, the father of our freedom, once wrote, I deem it the duty of every man to revote a certain portion of his income for charitable purposes, and that it is his further duty to see it so applied as to do the most good of which it is capable. Jefferson knew well the relationship between the responsibility of which we speak today and the freedom of our people. Another great American, Dwight Eisenhower, saw this when he quoted that young Frenchman, de Tocqueville's line, America is great because America is good. And if America ever ceases to be good, America will cease to be great. All of us are aware of the reservoir of goodness which lies waiting to be tapped. Let's make it our job, everyone's job, to encourage our fellow citizens to do those good works which need to be done with the help of God we can and we will keep America the great and the free nation that it is. Thank you again for what you're doing and for your presence here today. God bless you.


For the circuit python parsec today, I wanted to show you how to use a carriage return instead of a new line when you are printing to the serial output. So here's an example of a free floating analog pin that I'm reading. But that's hard to read because we have these characters flying up the screen and the reason for this is that the default in the print is to end with a new line, which means it goes to the beginning and adds a new line for every print statement. If we change this instead to a carriage return, or return, what happens is it goes to the beginning after each print statement, but it does not add a new line return, instead is just this carriage return. And so you can see here the way to do this is if I take a normal print statement and add to the end of it this here, comma, end equals, and then in quotes, back slash r, and that's the return or carriage return. The default, if I don't have that in there at all, or if I change that to n, looks like this. And so we get this sort of string of characters flying by or a string of lines flying by. This instead is a lot more helpful for measuring values and seeing them without getting endless scrolling of your text. And so that is how you can use a return instead of a new line when you're printing to serial output inside of Circuit Python. And that's your Circuit Python Parsec.


Dr. Ornish and colleagues were able to show an apparent reversal in the progression of early-stage localized prostate cancer with a plant-based diet and lifestyle program. And researchers at the University of Massachusetts and elsewhere showed a similar diet may help slow the progression of even advanced prostate cancer over a period of four months. How about six months? Researchers at UC San Diego found more cancer patients in the same situation and put them through the same protocol. These were patients who were already treated for invasive prostate cancer by either radical prostatectomy or radiation therapy, yet had rising PSA levels suggesting the treatment didn't work and the cancer was on the move. In those with a cancer recurrence, PSA levels typically rise exponentially reflecting the gradual inexorable growth of the cancer in the body. The rate of this PSA rise is the single best predictor of the development of overt metastatic disease, as well as of overall survival. The next step would be what's called hormonal therapy, which is chemical or surgical castration, which has a list of side effects, including loss of libido and sexual function and strength and vitality. Therefore, we try to hold off on that for as long as possible, so if we're just waiting, might as well give diet a try. So they were taught to increase intake of whole grains, vegetables, fruit and beans, and to decrease meat, dairy, and refined carbs. Of all possible lifestyle interventions, why a whole food plant-based diet? Well, if you look around the world, there are huge differences in prostate cancer rates, with WUR1 USA. USA rates up to 100 times higher than some places in Asia, for example. And it's not just genetic. Within one generation of coming to the U.S., cancer rates shoot up, and the grandkids end up with the same top-of-the-pile rates. A whole range of lifestyle factors have been looked at, but diet appears to have the greatest influence. Specifically, consumption of meat and dairy appears to increase risk, and consumption of plant foods appears to decrease risk, hence the plant-based diet. A possible mechanism is arachidonic acid, an inflammatory compound which we make from omega-6 rich oils, like corn oil, sunflower, safflower, and cotton seed oil, and also comes preformed in animal-based foods, particularly from chicken in the American diet, and also eggs. And in a Petri dish, at least, arachidonic acid appears to stimulate prostate cancer cell growth as much as 200%. And ask men to remove processed and animal foods from their diet for six months, and what happens? This is the before. This is how fast their PSA levels were rising before starting the study. In the absence of treatment, levels of PSA tend to increase exponentially, but eating healthier, this happened. Nine of the 10 patients showed an apparent slowing of cancer growth, and four of the nine, an apparent reversal in cancer growth. The average doubling time, an estimate of how long it takes for their cancer to double in size, slowed from doubling every year to closer to every 10 years. There's been other studies using various diets and nutritional interventions like vitamin supplements, but none have worked as well as this one. And their compliance wasn't even all that great. They did good about boosting their whole grain consumption, especially in those first three months, but then back slid a bit. They did eat more vegetables, including a serving of greens and an extra serving of fruit, at least early on. At least ate one whole serving of legumes a day when they started. So the researchers did observe some dietary recidivism by the end of the study. The patients started out stronger, but then started to slide back into old habits. So the researchers checked to see if maybe they were better able to beat off the disease during that earlier period. And indeed, at the end of three months, on average, there was PSA reversal. So changes in the rate of PSA rise were like opposite that of whole-food plant intake, raising the provocative possibility that PSA may have been like tracking those changes, suggesting that the adoption of a plant-based diet may have therapeutic potential in the management of recurrent prostate cancer. Their findings suggest that without further surgery, radiation, or chemo, disease progression can be slowed or even reversed, despite the prevailing scientific consensus that cancer progression is largely irreversible. They're not refuting the benefits of standard therapies and not guaranteeing that a plant-based diet and stress reduction will always induce remission. But the results do contribute to this growing medical literature that in at least some circumstances cancer may be partly reversible. Just by modifying dietary and lifestyle factors, men may be able to prevent disease spread all without getting their testicles chopped off.


Okay, great. Thanks everyone. This is the closing, the last talk for today. I hope you all have learned a lot and enjoyed it and taken something out of it. Hopefully met somebody new and made some new industry connections. Thank you for coming today. And also thank you, Tom, for running everything today, doing the opening. And to all the other program committee members, whether they're here or not, also thank you for helping put this together and to CNCF and the events team for bringing us together for KubeCon, CloudNativeCon, EU. I'd like to really, I think it's pretty impressive the amount of, I guess, like service providers that we've had on stage here today. I think that's what really excites me about the telco space right now, is a lot of them are looking forwards. It's even so many that I couldn't even fit them all in a nice way on one slide. And I think that's what is most exciting for me coming out of today at the high level. Going back to what Tom started out with this morning, we had a question, what is a cloud-native network function? And there were a large variety of answers from the audience. I think the two that stuck out to me the most were a CNF is either the Holy Grail or it's a recipe for disaster. And, you know, I think the point of today was to kind of figure out where we were on the scale between the Holy Grail and a recipe for disaster. And hopefully you all learned something today that made you understand a little bit about where you or your company think we should fall on that for right now. And hopefully that's going to change going forward. So we get closer to the Holy Grail and further away from the recipe for disaster, because I think we all want to come together as an industry and, you know, provide better services to consumers. I think through the pandemic that's kept us apart for so long, we all understand how vital it is to be able to be connected to one another. And we want to be able to improve that service, make that service better and provide the best bandwidth that we can to consumers. Now diving down a little bit further, what did we talk about? I think we're talking about a lot of bleeding edge things. Things like GitOps, EBPF, O-RAN, edge computing, Scyllium, SRV6, AI and ML, 5G, and all the cultural changes that are important to enable the technological innovations. So I think the cool thing about today is we've had such a variety of different topics from so many different service providers. And I think I really have to go back to my favorite quote of the day. That's what I really learned, is don't automate Excel. I think that's probably the top takeaway from today. But I guess it's not just about today, it's what do we do going out of here? The new people you met, the new ideas you have, what do you do and what do you take away? What did we miss? I would just take a moment, think about what else would you like to see on the stage in the future? What do you think is important for the industry to keep involving into a more cloud native fashion? For me, I think one thing that's super big at this conference but isn't here yet is cloud native security. I know it was touched on briefly by the presentation from Orange but it's interesting to me that we didn't have any security presentations yet. I think going forward they'll become more and more important and I think on the stage in the future you'll see those presentations. But also think about what you would like to see on the stage too and maybe you can be on the stage at the next conference. So with that, if you want to continue the conversation with us, please join the telco user group. They meet on the first Monday of every single month. You can continue the conversation in Slack. There's the one for today, the cloud native telco day. There is also the CNF working group meetings, the CNF test suite, join the community, and the CNF test suite on Twitter. Finally, two asks from the CNCF. One is to fill out the telco focus micro survey so you can do it and it's helping us understand where we are as an industry in terms of adoption and the key benefits that people want to get out of cloud native. And the second part, you should really attend the keynotes on Wednesday. They're going to be announcing a new cloud native network function certification program. If you're interested in that, I'd highly encourage you to check that out so that you learn about it. So with that, thank you for coming today. I hope you all enjoyed it. You learned something and enjoy the rest of the conference.


Hello, and thank you very much for joining this panel of the world economics forum on the future of the international trading system Well, the international trading system over the many decades since World War two has delivered unprecedented prosperity and growth To many of the world's nations and yet in the last few years that has sustained shock after shock We've had Britain's exit from the European Union We've had the World Trade Organization paralyzed by disputes centered on its largest member of the United States and more broadly the world has seen a significant pullback from globalization and the origins of this backlash are multifaceted some of it reflects unhappiness with the inequality that's been fostered by free movement of good services and people some of it relayed reflects and you found appreciation or Value placed on sovereignty and borders and discomfort with Vast movements of people and then in the last year we've had the pandemic which of course led to higher Borders closing to people restrictions on exports of important medical goods and More recently vaccine nationalism The challenge facing the world right now is how do you read? How do we retrieve and restore the great things about the international trade system while also taking appropriate? Response to some of these concerns that have led to that have fueled the backlash in recent months We're joined today by several excellent panelists discuss this topic with me Secretary of State of Trade of the United Kingdom Elizabeth trust That's CEO and chairman of the executive board of Germany's Merck company Stefan Oshman we hopefully will be joined soon by the Netherlands Minister of Trade Sigrid Koch Regrettably Paulo Guedes the Minister of Economy of Brazil had to cancel and will not be joining us The secretary trust let me start with you Britain is now on its own It's left the European Union a healthy and vigorous world trade organization is more important than ever To the UK what in your view are the priorities for reforming the WTO? especially given the challenge that it faced under the previous US administration Well, the fact is that the global trading system has been troubled for some time and Particularly as we are seeking to recover from the coronavirus is vitally important that we resist protectionism But we promote free and fair trade at the same time and the United Kingdom is keen to work with other Countries who share the same approach and share the support for the rules-based international trading system and President Biden has Today come out with a statement of support for WTO reform He's indicated a desire to work Multilaterally to deal with some of these issues and I think the United Kingdom has a big opportunity this year first of all because we are now an independent trading nation with a Independence seat at the World Trade Organization We also got the presidency of the G7 Well, one of our priorities is promoting free and fair trade and we're also the president of COP and of course Environmental trade is a very important issue for the United Kingdom. So we want to Show by example what we're doing so the new UK global tariff is lower greener and simpler Than its forebears. We have struck Continuity agreements covering 63 countries plus secured a deal with the EU That means that 64% of the UK's trade is now covered by preferential trade agreements And we're also working towards accession of the comprehensive and progressive Trans-Pacific partnership, but alongside those bilateral and plural actual Arrangements the UK does want to see World Trade Organization reform. So what does that mean? First of all, it means sorting out the appointment of the new director general It means dealing with some of the long unresolved issues at the WTO the dispute settlement mechanism For example, we need to get resolved big countries small countries need to understand that they're going to be treated fairly Under the WTO system and that the rules will be impartially enforced We also need to face up to the fact that WTO rules haven't significantly changed since 1995 And of course since then we've had a huge digital revolution That revolution has only been Accelerated by what we've seen during the pandemic. So the WTO desperately needs new digital rules to operate So that we can catch up With the way trade has changed and the final point that I want to make is around subsidies and state-owned enterprises Which can undermine genuine free trade and Greg you talked about People losing trust of globalization. I think one of the reasons is that people can see things are unfair That if state-owned enterprises are able to subsidize and be able to undermine Free enterprise economies, then that can destroy trust In trade so we are keen to see first of all the rules enforced a proper transparency Around subsidies, but also bringing in new rules where they are needed to tackle these issues And the United Kingdom is keen to work with those leading in this area Notably Japan the US and the EU To see change to that system. I do think that we've got a unique opportunity in 2021 The ministers of the WTO have now not met for three years I hope that the MC 12 conference will be in December this year And I think we've got a real opportunity Over the next 12 months to build up a real program and perform get support for that both in the developed and developing world and Reset the global trading system so that the works for all of our citizens Thank you very much. I'm Mr. Oshman. I'll turn to you now I mean as the head of one of the largest life sciences companies in Europe Free trade and inputs and outputs is very important to you And yet we're seeing the world going in the opposite direction since the arrival of the pandemic with increased pressure on countries to restrict the supply of Essential medical and pharmaceutical inputs to their own people just this week The European Union indicated that it would ask for notification before finished vaccines were exported And there are concerns. This might actually lead to back export restrictions What are your thoughts on the risks of these policies and how should we? deal with them I Would say thank you very much. I would say it actually feels Great to be here with leaders who committed to making our global trading system part of the solution to the pandemic the current pandemic and potentially future pandemics you mentioned the Decision by the EU Commission that was actually published today and our president it move to For export controls and what is called transparency? It's based on technical issues in one in one production site in Belgium. It's a remarkable It's a remarkable move. We've seen disruptions in the in the United States who will be war times act Where actually us companies because we couldn't supply them we couldn't export US companies who would produce abroad could not make vaccine because of these Because of these rules that were actually meant to ensure vaccine supply So Mac I mean our company just to make they would be doing their diversified Science and technology company. We have three businesses bio pharma and we do Also research into COVID therapeutics ourselves our largest businesses our life science truth business There we are a supplier and a partner to the companies and governments that are developing and manufacturing vaccines therapeutics Diagnostics the supply the materials the equipment and consumables necessary for the development and for the manufacture the production of such products such as vaccines and We also share know-how and insights and to help these companies and scientists to do their to do their work as a result of the pandemic our customers are facing Unprecedented pressure and demand has skyrocketed and even as critical inputs are short in supply and Investments to expand manufacturing capacity are urgently needed, but this is expensive, of course, and it takes time Governments initially and recently reacted with policies that in quite a few cases were Counterproductive the pandemic revealed. I think important weaknesses in global value chains Not as it is often reported in the media the question of Globalized supply chains has actually or that that was not an issue really that was something that has actually worked extremely well It is these protective measures that have Wrote about obstacles and the challenges are clear I think we must act to address them so that we can get the vaccines into the arms of as many people as possible and as quickly as possible And I think leadership by trade officials will be important and let me explain why very briefly our customers Whether they're large or small whether they're in developed or in developing countries are like face tariffs of often more than 25% on inputs necessary to make vaccines and diagnostics and this adds Unnecessary cost drives up prices It prevents new companies from entering the market at a time when more Capacity is needed and WTO members should commit to remove all unnecessary tariff costs from health supply chains The members of the Ottawa group including the UK and the Netherlands are working through the EU And have proposed new talks to this end at the WTO And I think this is a great first step and I urge you to ensure that any agreement Cover the full range of medicines and biologics and also the necessary raw materials Consumables and equipment for their R&D and manufacture Thank you very much. Mr. Oshman. Mr. Cog. Well, I heard the Netherlands mentioned in Mr. Oshman's remarks there First of all, could you speak to the wisdom of the European Union's directive on notification of vaccine exports? Is that could this become actual restrictions on vaccines? Is that good or bad? And what are you doing with your? colleagues across the European Union to deal with some of the supply issues and tariff issues that you heard Mr. Oshman raised Well, thank you very much. Yeah, that's you putting me on the spot there I was prepared to speak on the reform of the WTO. I'll get back to that as well. If you don't mind sure. Yeah, we will do that I'll give I'll definitely give you a hand, but I mean I It's true that this afternoon the the Commission just announced, of course the vaccine export authorization mechanism and The aim is to increase transparency in COVID-19 vaccine production in the EU and exports and introduce of course Authorization approach. It's not an export ban. It's very important that I think we emphasize that And it's supposed to apply of course to those countries from companies with whom the EU has concluded what they call advanced Purchased agreements, but it's time-limited only until the end of March and it contains exemptions which I think are very important such as exemptions for humanitarian aid or Exemptions for exports that are destined to countries under the COVAX facility And we'll have to analyze to be honest the full extent of this temporary Regulation the annex at this point So I don't have a detailed comment I can make but you'll also recall that the Netherlands and Sweden Last year at the start of the COVID-19 crisis We're already introducing a draft agreement on essential health goods agreements in order to ensure that markets remain open That we that we work we produce and we have secure supply lines around essential goods across the globe and that we don't fall in the found in the trappings of a protectionist Policies also when it comes to essential health goods and I think the debate is fair and square Of course also on this vaccine in this particular case We have to it's a fine line and I would be dishonest not to suggest that In the Netherlands we're also very keen to ensure that our own population will be inoculated at the right time with the right dosage And that's a political demand. It's a societal amount However, we should not we should be mindful of the needs of so many other countries developing countries That obviously from a health equity and the public health perspective Do need the same measure of access to vaccines Which is why we've also supported covax and covax itself needs more vaccines and it needs significantly more financing I think that's a big challenge too. So we all need to invest in production facilities and ensure that supply lines are left open And that we can we can meet public health goals and Address the issues that have been triggered by COVID-19 Perhaps I could just first make a few points and actually on the original question I was asked to to speak to the reform of WTO and I think if we talk about fixing the international trade system WTO still plays a central part from our perspective The WTO has struggled for 25 years To update its rulebook and of course to bridge the divide between the membership But from our perspective it's sort of now or never for WTO There are three reforms that are significant tackling current societal challenges Restoring the level playing field And reviving multilateralism, but reviving multilateralism is the enabling factor as far as I'm concerned It's the political playing field that needs to help us achieve both substantive response to societal challenges And level playing field from a societal perspective. We need to really work Together to use trade agreements to design ambitious green trade trade policies and sustainable trade agreements That include issues such as labor right very forcefully progress towards the Paris agreement and of course issues of gender equality Over and above the substance of trade and this can be done with other organizations of the UN and ILO But we need the membership to be in agreement around this within the EU France and the Netherlands have Proposed a policy around sustainability and trade and the Paris Accord plays a central role in this regard When on level playing field, I think I can be brief too Of course, we are concerned that we are still slow in achieving that sort of elusive goal It's very clear to us that that China and other countries Need to sort of ramp up their game when it comes to transparency around state subsidies Dealing with issues of forced transfer the forced transfer of technology And of course sustainability across the board Last but not least the status of a country such as China as a developing country You know We beg to differ that this is relevant in this day and age and this is appropriate So from an EU perspective and the Netherlands has supported that we've proposed a phasing out Of this particular status issue now last but not least We consider the EU not only as a value community, but of course, it's also the Largest internal market We are a multilateral player and we heavily rely on the WTO to be efficient transparent and effective So leadership matters in this regard and we look forward Not only to the active return of the United States, but also the appointment of a new director general I believe it may be a she so A heavy burden is placed on her shoulders, but whomever is confirmed That person will be up to the challenge and the membership needs to Enable and to facilitate the decision making to really have an agenda that looks towards the future There's too much time lost On issues of e-commerce the digital economy Around which level playing field plays a role again So I think we we can we can do a lot and I'm aware that The WTO could also Be a trendsetter when it comes to the debate on global economic recovery alongside the IMF or the bank dependent on the mandates and the remit When we're discussing green social and digital transitions. So these are the challenges we see before us and The time is off the essence I'm also appreciative of the opinion piece that was published in foreign affairs by chat brown of the pettison institute and Brown argued that fixing the international trade system It will be key for the Biden administration to win back trust from its allies But winning trust and gaining trust restoring trust is a two-way system from a netherlands perspective And an EU perspective. I believe we very much look forward to teaming up with the biden administration on climate change within a fair international trading system and teaming up also on the shared challenges that we see geopolitically And from a trade From a trade angle. So there will be a new cornerstone. I believe for a new transatlantic engagement corporation and the strong partnership that we've always had with the united states Thank you very much minister secretary to us minister Has mentioned some of the challenges with respect to dealing with china as a developing nation and so on and I know The challenges posed by china has been a common theme that you have addressed many times When it comes to wt reform one of the criticisms of the trump administration was that because it is a consensus Organization is that it is difficult to make fundamental changes to its rules unless everybody agrees How should the uk the united states other market-based democracies proceed? If some of the changes you want for example to china's Use of subsidies are not acceptable to china Is there a case for an alternative forum or arrangement a united front or an alliance of democracies? That moves outside the wto to deal with china specific issues So I I very much concur on the issues and I think some of the behavior by china on areas like forced technology transfer Subsidies by state-owned enterprises and also IP violations Have led to Some of the mistrust in the global trading system and it's in everybody's interest to see the system restored Including china's because if there isn't trust if we have a beg-of-my-neighbor approach of increasing protectionism That will hurt everybody So I think part of the challenge is to make sure that we have full engagement Of all of those who believe in restoring multilateralism including the us including the eu the uk Japan and others and it's very important. We the coalition includes developing As well as developed countries. It's important that we work together to get that change There are also other ways however that we can promote free and fair trade through bilateral and plural actual trade agreements and I think organizations like cpt pp And the development and increased membership of such organizations also puts pressure on the wto to reform Because there have been significant efforts say for a number of years to achieve wto reform and Even areas like fisheries where there have been significant negotiations those negotiations haven't yet concluded So it does need a strong political push from like minded allies But it also needs external pressure as well. I think to reform and of course getting a dge Into the job is absolutely vital But I think the uk can play an important role this year as president of the g7 An organization of democracies to help Flesh out what the approach to some of those reforms is get agreement work also with Developing nations And make progress ahead of the mc-12 conference Which we're expecting to see take place in december Thank you very much. Mr. Oshman. What is your perspective on the difficulties posed by china's role in the trading system? in recent years the european union european Companies including german companies have begun to share some of the same concerns that american companies have long had with respect to Access to the chinese market discriminatory practice with respect to government procurement Uh favorable treatment of state-owned enterprises in their system What are the concerns that you have with respect to the environment in china? And do you worry about these problems being dealt with in a bilateral fashion as the united states have if so What is the preferred mechanism in your view that the western countries deal with those problems? If you've seen in china that the chinese policies of the european companies have been used to The chinese policies of the past Three years i would say have Have changed considerably when it comes to life science, biologics drugs, etc Interestingly, we've seen that the that the chinese government has joined the global bodies on regulatory Regulatory alignment a very very strategic issue in the life sciences industry And we've also seen surprisingly a strengthening of ip protection in in china We should not underestimate the strength of the chinese innovation system. There is a vibrant Innovation ecosystem in china if you look some into some of the hottest technology and science developments cell therapy gene therapy or so You would see that that's something like More than 50 of the experiments worldwide or the clinical trials are conducted in china or by chinese or by chinese companies market access has improved to some degree in the case of Pharmaceuticals, this is really about reimbursement on the national drug list and there was a there used to be a very negative policy in well, very negative. Maybe an overstatement, but a reluctant Reluctance to accept foreign products while chinese products would get approved much faster That is still an issue, but it has It has it has improved My personal view is that the chinese government wants to gain access to the world markets They they have nascent or emerging global players within their own country And these glow and these up and coming global players Want the same rules like uk netherlands or germany-based companies? Would like to have so in our in our field we're seeing a A gradual progress in china in the right direction. I'm not claiming that this is A perfect perfect by any means Thank you. Mr. Koch, let me turn to you. Recently the european union Struck an investment agreement with with china And this was despite a you know a subtle suggestion from jake sullivan at the time of incoming national security advisor for president biden That maybe you wait a little bit and try and find a more common approach with the united states to Actually deal with Commonly held concerns about investment treatment in china What is your response to the? criticism that by going ahead with this deal the european union is actually weakened The rest of the world in terms of establishing common rules of the road in china Well, i mean trade agreements have to serve a purpose And i think it's at the moment still one of the most effective instruments that the european union has in its foreign policy and foreign engagement If we are honest, so one has to apply these very diligently now this agreement, of course has been a few years in the make and negotiations It's no secret that a large number of member states We're trying to emphasize that quality was uh was more important than speed of conclusion This is uh It has been concluded just before the end of the year I can understand and appreciate the american concerns Around the haste or the ultimate haste in what is always a multi-year process um, and one could argue both ways one could have waited until Uh, the formal start of the biden administration or one could have concluded it now um The good news is that there still be a few years before this is finally Ratified because the member states and their parliaments have serious questions and comments, but we need to see the final text One of them is certainly around level playing field Uh, secondly on human rights, uh, and due diligence in the chain and the human rights side Is strong is very directly related to the oigours uh concerns over slave labor or bonded labor uh in in particularly in the textile industry And I am not sure at this point that the european parliament will easily Adopt or agree to this investment agreement The gains of the agreement, uh, if it if it if we if we're able to proceed with it are that it sort of, uh Sets right or addresses to some extent the asymmetrical relationship that exists currently between the european union and china i.e. Chinese companies be they state led or not can more significantly more freely invest within the european union Engaged in and in takeovers On the other hand, it's very difficult still for many european companies to access and invest in china And the negative list as such is still in operation. It's reduced in terms of The categories under the list, but it's still there. So there is a leveling out However, for the netherlands, um The the devil will be in the detail And our parliament will also be critical and from the government side as well We have expressed the range of concerns. I have sort of briefly annotated here and we expect the agreement to address these If not, it will be sort of rocky ride in the meantime We think it's very important that we team up with the biden administration in order to ensure that allies european union And the us address common issues around trade and sustainability I mentioned the climate accord, but also human rights and with that regard We also focus very much on due diligence in the value chain. We cannot disconnect those They're not separate exercises. So it's a first step and let's see how we reach the finishing line so just to recap With respect to the view of the dutch government, I know it's a caretaker government at the moment But in your view is the text as written now unacceptable to the netherlands and would you favor reopening of the text? Um, well, that's the irony with these things. We haven't seen the full and final text Um, so when we receive the full and final text, we will read it We will assess it on its merits in the meantime There's ample scope to discuss And and engage with the biden administration as we hope to and as we will do from a european union perspective And as you've seen the european union the commission has already launched A new sort of transatlantic agenda With the with with a wide range of issues around which we want to strengthen the partnership with the us And I also believe that teaming up on issues of shared concern Be that From a geopolitical or geo economic perspective where it concerns china that will be very important and in that sense Being the government having sort of awaiting elections. It makes no difference to the position We've already held before actually the government stepped step down Thank you very much We have a few questions coming in now and secretary trust. I'm going to direct this one to you How do we navigate? The geopolitical tensions in trade and technology development such as in 5g that are hindering multilateralism And if I might just um enhance that question a little bit We hear there were decoupling a lot lately and under the trump administration There was a very forceful effort to decouple extensive parts of the technology development value chain and and trade The uk faced a lot of pressure and ultimately did exclude huawei from its 5g networks What happens next? Is there further to go on this? Do you think we went we went too far? And what mechanisms should exist to govern the so-called decoupling dynamic? I think what we've all discovered during the cable crisis is the vital importance of transparency around our supply chains And understanding where critical goods come from and I'm not in favor of autarchy I'm in favor of Using trade to diversify our supplies and make sure that our economies are resilient And one of the reasons that the uk is negotiating a series of bilateral trade deals including with the united states New Zealand and australia as well as Our proposed accession to the cpqp If we want to work with like-minded allies First of all to help set standards particularly in areas like digital Where there's an important international debate but also to be able to diversify our supply chains Amongst like-minded countries. I think that is a very important strategic approach that we are taking And others are taking too You mentioned technology. I think quite often trade gets the blame for technological development in terms of the Impact it has on industry the impact it has On working people, but I think we've also got to be very careful in our trade policy That we are making sure that Everybody feels the benefits and one of the focuses of uk trade policy is to make sure that the whole united kingdom benefits from trade deals we do and that those Benefits and costs are fully assessed In all the work we undertake, but Our approach is working with like-minded partners to help set standards and to use that process to help shape the global trading system And what we can't end up doing is allowing Vendors who are artificially subsidizing particular products to be able to Undermine the proper working of free markets based in democratic nations. That's a really important principle If I could just follow up for one second I believe the the the the uk government has actually talked about perhaps exploring the use of Government mechanisms to basically nurture some of these frontier industries in the uk Do you see a need for subsidy codes and the treatment of so-called industrial policy to be modernized so that it would permit Efforts by governments such as your own to localize or to To generate more of that production at home to help some of those people who as you say have felt left out from globalization in the past As I said earlier, we are very committed to tougher action on subsidies at the wto and making sure that we are operating not just within wto rules But we are upgrading those rules to effect to deal with the kind of subsidies the unfair subsidies That we've seen operating In that global market. I think key to this is making sure we're transparent. So What what support is being given? Why is it being given? and not reverting to the sort of 1970s approach which was prevalent in britain of supporting industries that don't Don't have a Effective future, but the uk will shortly be bringing out details of our new industrial strategy, which will Outline further further aspects Thank you. Mr. Oshman a question. I'm going to direct this question to you from the audience thinking about fair trade and distribution How are vaccine supplier countries such as your own monitoring transparency in the valley chain from start to finish To ensure that the recipient countries are fully confident of the quality and and and and so on of the vaccines They're receiving as you know vaccine resistance the significant problem facing the world as they attempt to basically get control of and suppress this pandemic First of all, I would say it's almost a miracle that less than a year after this pandemic started that we have several vaccines that are effective and safe that can be used That can be used widely in all sorts of populations the technical questions of efficacy safety and quality are being managed by the competent regulatory authorities in the united states that would be the fda And in in the european union. It's the European medicines agency in the in the uk's dmh r.a These are very well established well functioning bodies and and processes and The cooperation between the regulatory bodies and the researchers and companies who Who have developed the vaccines have reached a Level that was unprecedented as often in these regulatory processes. There's a lot of red tape In this case. It was it was really really very different. So quality issues I don't I don't see any Any topic with with regard to that vaccine development is a very A very risky thing in terms of scientific risk biological risk. We've just seen Last last week that a large u.s. Company has stopped their cobit vaccine development. We've seen that Today that Another large u.s. Company has published efficacy data that are let me say so so as far as I can As far as I I can tell the issue with vaccines is right now is availability and it's equitable access to these vaccines The two ministers on the call have referred to covax and other other platforms that exist to and that are working on that and I see tremendous progress are actually in contrast to what is Generally being discussed in the media. I've seen more Global cooperation in this whole vaccines area than ever before There will be there will be issues There's some technical issues some vaccines need to be stored at very low temperatures That might change in in due course We we don't we don't know yet But even for developing nations, you know at the prices The cost of these vaccines The gdp loss That that we are seeing through through the pandemic is so huge That the cost of vaccines is actually Comparatively Comparatively minor We are right now. We've seen shortages. I was I was alluding to that in my entry in my entry statement But you know, you go back a couple weeks. We had no idea whether we would have vaccines. So we cannot expect miracles I currently I see that Many global players are cooperating on manufacturing in quite a few different countries And I I expect that we will see within the next couple of months. You will see Tremendous progress on availability on the availability of vaccines We need to be we need to be realistic. We cannot cut corners As you said quality is very quality is very important vaccine manufacturing is super complex We need to protect we need to protect patients And we shouldn't make any compromise on on quality. But all in all, I think we've made amazing progress in this Thank you, uh, mr. Cough. I'm going to direct this question to you one of the principle sources of the backlash against multilateralism and globalization of recent years Is the perception and the experience that trade agreements and international trade have delivered Enormous benefits for the totality of society while creating very serious costs and social damages to communities and regions How do we reform multilateralism so that we actually do not leave behind? Uh specific communities and so forth and therefore rebuild support for the international trading system Yeah, um, well, I think the the backlash against international trade agreement, of course stems from a backlash against globalization and I very much agree with the with Secretary trust that we're not looking to rebuild autarky. What we can do, however, is to strengthen content and the quality of trade agreements Where sustainability is key addressing the impact of climate change ensuring and guaranteeing labor rights and building around value in the supply chain But that requires a collective effort and all multilateral international organizations need to assist in this regard But ultimately it's the design phase In the negotiations that sets The stage for quality agreements the redistribution of wealth And of course, uh, the the drive to achieve equity requires more than only trade agreements trade is incur is meant to create jobs Hopefully sustainable and green jobs And we need to of course make sure that standards are met and that compliance is ensured and that's been the weak point I believe that it's been between states and that follow-up compliance and Redress for communities affected or impacted redress when your rights Have been have been hit or have not been met That's been an important point in in many trade agreements The european commission has established a dispute settlement channel in that regard, but I believe we can do better looking to the future of new trade agreements We need to look at sustainability and the paris accord But redistribution of wealth the issue of equity. We also need to work of course with the imf Bilaterally and multilaterally with all partners to ensure we set the right agenda So the criticism I think to some extent is fair But it's a it's a case of collective responsibility and action And in the 21st century certainly don't do not have time to waste And yeah national planning national economic planning And and and obviously democratic processes are equally important trade is not the panacea for all evils It's an enabler and it can be an accelerator, but one cannot put everything on a trade agenda Thanks, we only have just a couple of minutes left I'm going to just ask a quick question to both of the trade ministers in this call When you expect to meet when you when you have your first meeting with your counterpart from the new Biden administration, what is will be the top of your priority list? I'll start with you secretary trust On the top of my priority list is first of all de-escalating some of the immediate trade tensions. So for example The steel dispute the air bus bowing disputes We shouldn't be in a position where the uk de eu and the us have tariffs on each other We need to work together and we also need to restore the multilateral trading system And restore the wto I completely agree with that for us We need to have a an assertive Relevant european union in this world and when it comes to the us definitely. I hope that both sides can agree to Take all the distorting measures off the table. They should never have been there It's a new era new dawn new era with president biden and his team And we need to to team up together to me to address the challenges and all these Uh reciprocal measures against trusted partners are not part of this this platform as far as I'm concerned So I hope the sooner we can move on the steel measures on other On other measures that were taken trade imbalances. It's not part of the new dialogue Well, I'd like to thank everybody on this panel. We're now out of time. It's been an extremely interesting discussion We stand at a very important hinge point in the future of the international trade system And I look forward to continuing this dialogue with you and others in the in the coming months I'd also like to thank all the people who joined this call and the world economic forum