First, we all must actively support the Doha round of talks at the World Trade Organization (WTO), recognize the legitimate role of the WTO as arbiter of international trade, and resist calls for protectionist measures in our own economies - measures that will ultimately hurt us all. Second, we all must enhance the flexibility of our domestic markets.
The effects of those measures will still be coming through for some time yet. Measures to sustain confidence in the financial sector and to keep key markets functioning were also important. Perhaps there is also some value in articulating a view of where we want to get to when the cyclical downturn ends, as it will, and recovery takes hold.