These were very hard times for this sector and those who make their living from it. The crisis in the auto sector prompted the federal government to step in with extraordinary financial support. That support helped save thousands of jobs throughout southern Ontario. The firms that survived have lowered their cost structures. We are seeing more innovative processes and accelerated new product development.
*  *  *  Opening remarks Ladies and gentlemen, Let me first extend a hearty welcome to all participants who have gathered from Australia, China, Japan and Korea to attend the International Forum on Monetary & Financial Cooperation for Asia. I am very glad to see here today so many great scholars of money and finance.