 There are numerous challenges facing us in this increasingly contested and competitive world. We're coming to the end of the era of cooperation and we're entering the era of competition. The transatlantic partnership has been substantively shaken and right now our values are not necessary in the same place. We have seen in the past that very fast the world moved from a status of engagement to a totalist engagement and war. We need international mechanisms more than ever given how the challenges are really increasingly global. The globalization euphoria has passed where you see a reaction in lots of different societies around the world where people have real anxieties. There's a question about whether or not governments are delivering the kinds of resources and services that they expected to see delivered and as a consequence there's a pushback against institutions generally. That framework of alliances and treaties and norms underpinned by international law, there are some nations that are challenging that order because they don't think it reflects the current reality. The interplay between the hyper nationalisms of the United States, of China, of Turkey, of Russia, of Saudi Arabia could rapidly move us to a world in which the fundamental political basis for cooperation and multilateralism erodes. The main driver of the challenge is trade. When you look at past history confrontations in trade terms have resulted in confrontations of other types that are very serious. Countries are finding that they're able to create and foment more chaos through cyber operations designed to hack the conversation, distort the truth and influence the public discourse. Alliances actually become more valuable because you need to mobilize coalitions of countries not only to deal with those power challenges but also to deal with these overarching challenges that no one country is going to be able to solve on its own. Our response to climate change is going to be a very significant driver of this new economic transformation. As we move to technologies which are cleaner, greener, there are going to be new winners and losers. New countries are going to rise, new businesses are going to emerge. We are embarking on a period with a lot of competition in technology but also the new technology can be very constructive and helpful. The internet and AI will influence policymaking and also produce increased productivity. We need to make decisions quickly. It is really important that countries who are convinced that the system that is based on the respect for rules stands up and speaks out. We still have the institutions which allow for certain level of dialogue. The question is, are we able to translate those conversations into impact? No one country or no one entity can survive alone. We should talk to each other. Understanding is the basis. Thank you.