* * *  Year 2000: ninety-four days and counting My topic today is a timely one – the Year 2000. My comments will focus on the readiness of the financial services industry in the United States and the significant work and coordination that have occurred globally to prepare for the century change.
Emerging markets account for almost 40% of world GDP at purchasing power parity, and 20% at market value. And if these economies are already large, they are also growing rapidly, at about 7% per annum on average over the past five years.