You are also discussing one of the world’s great challenges – boosting productivity and increasing people’s living standards. The conference organisers have put together a distinguished array of speakers to help us make some progress on this critically important issue and I am delighted to be able to participate in those discussions.
Secondly, more of the marginal production of the world economy has to be in those raw material intensive products – and in the raw materials themselves – and less in the production of the other things. Ultimately there will be enough steel, energy, food and so on to meet demand – supply is responding.