More competition will bring about an increase in overall efficiency and labour productivity through various channels, including the more extensive and effective use of new technologies. The financial markets provide a good example.
Let me conclude with the second word – CONVERGENCE. In this divergent world, where each is driven by his own bottom line considerations, we come to realize that there is no exercise that does not leave us short of breath. Whether it is a proactive effort or an intervention to address parochial concern, the intention to make us better requires deliberate effort.