 Thanks also for the invitation to this institute, with whom I've been working for, let's say quite a number of years. And I think it is and remains, and your presence here is a testimony to that good place to think forward, research, and spend a bit of time looking at the picture which is something the IRA have always had to do, and I think overall have done reasonably well. Now, let me focus this part of our session on a few remarks on the international economic background of world trade, which I would characterize very briefly in sort of three main points. First one is the sort of formidable transformation that we are witnessing in the world economy and which inevitably reverberate in trade. Second sort of challenges these new very powerful transformations raised for policy makers, including trade policy makers. And finally, what does this mean for Europe? And for Ireland in how can Europe and Ireland sail into these turbulent waters? Now, starting with sort of background, we have been witnessing at the end of the last century and much more at the beginning of this century a sort of tectonic shift in the world economy. Last year, O2L would mark the first time in the world economic history when the GDP of developed countries became lower than the GDP of developing countries. And this is the product of an impressive growth which developing countries have registered in the last decades. And this speed difference has been accentuated by the...