 I was checking the mic, it functions admirably well apparently, so we will start our panel. We are privileged with a, I have to say, a very, very impressive panel on this issue of the major mid-term, long-term issues for the global economy, and it is my pleasure to introduce the members of this panel. The first on my left would be Gabrielle Felbenmaier, director of the Austrian Institute of Economic Research, the WIFO, and professor at Vienna University. He is also, he was also the head of the IFO Center for International Economics in Munich, the very famous IFO Institute, and he was also president of the Kiel Institute of the World Economy, so an extraordinary career, if I may, in chairing a very, very important institution. We will then hear what Sébastien Jean has to say. He is a senior associate of the IFRI and a professor of economics in Paris at the Conservatoire national des arts et métiers, and he holds the chair Jean-Baptiste Sey, which is a very, very good manager, if I may, on the industrial economy. He's also a member of many, many council, and he has previously been director of the CP in Paris. So thank you Sébastien. Thank you. Come, we are very honored. John is an old friend, I have to say, I have to declare. John is a friend, senior fellow of the Foreign Policy Institute at John Hopkins. He is, he was first deputy managing director in the IMF, was also acting managing director of the IMF, and he was, he had very important position in the private sector. So again, John, you are a global trotter. We see you in Shanghai, in Seoul, in everywhere in the world, in Delhi, and you were kind enough to come. Thank you very, very much indeed. And we have Marcus Noland with us. So thank you, Marcus, very much. Executive vice president and director of studies at the Peterson Institute for International Economics. And you have been senior economist and the council of economic advisors in the executive office of the president of the United States. And you held, you hold research or held research and teaching position in many universities, top, not universities including Yale and John Hopkins. So here we are blessed with your presence. And I think we could say that we are prolonging in the economic sphere what Thierry de Montréal said a moment ago at the level of the globe and on all dimension, if I may, including technological dimension, political dimension, social dimension. We will be more modest. We will perhaps try to elucidate what are your main messages as regards precisely the main issues for the global economy in the present time. I would certainly say that there are many, many numerous dimension to the questions which he asked explicitly in our panel. I will only list those questions, but as I said, each of us has messages. We'll concentrate on some message and it is what is important taking into account their experience and what they have done in the world until now. So I would only mention technology as said, Thierry is a major, major driving force. And we are experiencing with artificial intelligence something which is particularly striking, but it's only a start. It's only a start. Science and technology are progressing on a very large font. I will note climate change. Don't insist. Green transition. We are in on a single spaceship which is planet Earth and we recognize that we have to take care of all of us without any exception. And if there is a domain where it is absolutely clear that all countries concerned have to take care, it is certainly taking care of the single spaceship in which we are. Another point would be, of course, reflecting on global trade, what happens in global trade, what happens in the hedging of the global long global value chain. The change of attitude with the global change is very striking as a lot of, I would say, counterproductive consequences both as regards the growth on the planet and as regards also the push for inflation of the planet if we are not optimizing the global value chain as we did before, but clearly this is a very important trend. We have, of course, the fight against inequalities which was also mentioned by Thierry. I think it is something which is generalized the world over. Advanced economy, emerging economies, all countries and economies on the planet have this threat, which is the looming inequalities. And of course, I will say a word on inflation, which is one of the big, big challenge that we have today. On that, I would only say that I am reasonably confident that the central banks will regain control when time comes. I take it that in the year 25, we will probably have inflation, core inflation, say, in order not to be too depending on the volatility of some prices, but core inflation around 2% in the medium term, which is the single goal, the single definition of price stability that we presently have the world over. It came out of the crisis of Lehman that, again, Thierry mentioned. And I have to say one of the major consequence of the Lehman crisis is that all major central banks that are members of the basket of the SDR, whose currencies are part of the basket of the SDR, so namely the US, Europe, Japan and the UK, have the same definition of price stability. I consider that this is something which is extremely important, under assessed, underestimated by, I would say, academia in general, unfortunately, because, again, it's one of the de facto transformation of the international monetary system that should be analyzed and studied.