 Excellencies, ladies and gentlemen, the edition of the World Conference, Policy Conference, is the 10th edition. The first was held in review in October 2008 and it was held after the bankruptcy of Lehman Brothers and this is a bankruptcy which is the symbol of the greatest financial crisis that the world has witnessed since 1930 and it has put an end to the epistemological error which says that the economic science has reached the level of exact sciences. The Nobel Prize considered that the other countries with the stability of prices and external balance can only be a matter of engineering such as the manufacturing of an aircraft and when needed the cool blood of the small community of the central banks who have an important experience and pragmatism which is well-intranged in history in order to avoid a disaster in front of which the governments were helpless and hopeless. A decade has elapsed and the world economy has recovered and the economic and financial governance has registered significant progress and growth but the memory of errors and mistakes actually has not actually taken into account the normal situation that was recovered and therefore the things started to go out of control which means that we are not actually safe from getting back to the financial disaster and calamity. Years after the setup of the World Policy Conference have witnessed the dramatic failure of the Arab Spring, the disastrous policies which were in spite from the new conservative American policy led to the anarchy and chaos and to the geographic expansion of Islamist terrorism revolved around some organizations such as the ISIS. This led to the mass increase of refugees flows and around whom we had different parasites which are nourishing on the collective sadness and hopelessness. Well, this increase had other causes that are related to the bad governance and the rapid increase of the Union after the fall of URSS. If there is a lesson to learn from history we cannot actually play without responsibility with political regimes. Each people is somehow trying to uphold and this says that to maintain an open word this means that we have to adhere to shared rules of the game with the different stakeholders with the firm will to respect the same. This is probably the most fundamental point of view of what we call word governance. This is a point which can be seen in the different levels of geography in the Middle East in its large form after the end of the Cold War to the region of the different planet where the rules of the game have somehow been violated and to return back to the stability something that is possible when we have a shared well between the different stakeholders without any exclusion or exception and no ideology with the will to find new rules. From the geopolitical point of view during this decade the dominating phenomenon is the confirmation of the Chinese ambitions. That is the Communist Party of China with its leader Xi Jinping who this is the biggest country in the world is now planning to go beyond the U.S. after before even the celebration of the 100 years of the Republic of China. This is something that means that it will take over the different values of other countries such as the U.S. it will actually change the different rules of the word order which were defined after the Second World War without any friction because of the rise of China the third economic power of the word Japan and the end of Xinjiang being is actually trying to recover the different attributes of power each one is aware that in Eastern Asia the the immediate future is actually revolving around North Korea with the different actors such as China Japan and South Korea and also Russia. I have mentioned now Russia the first edition of the word policy conference had given the opportunity to Dimitri Medvedev and the French President Sarkozy to finalize an agreement about Georgia one of the hot points within the context of the ex-Soviet Union after the fall of the wall the situation has actually been aggravated with the challenge of Ukraine but no one wanted to understand that the end of the Soviet Union was also the end of the Russian Empire but the impacts of the fall of an empire can only be felt after a long period especially when this event has opened some other ones which would never healed after the end of the first world war this is why the last decade has witnessed the rebirth of a sort of Cold War this is actually has made Moscow to get nearer to begin with with playing its own game in the Middle East and Iran was actually looking towards China therefore this is a sort of attempt to advance its project of the road to silk and the present word is very difficult to decode than the word of yesterday and risks are actually getting them applied with some immediate economic consequences and these are the calculations that the insurance companies have to make when they face the difference hypothesis that relate to North Korea nobody can ignore some scenarios and some subjective scenarios the consequences of which could be very huge this actually reminds us of the strategic reason is that we were making during the real Cold War otherwise and if we put ourselves in the middle long term the risk could be actually greater that is the friction of the word the two different blocks that could be closed and be competitive before becoming actually enemies and this is what some geopoliticians are predicting at the opposite of this view which is referring us to the most grim views of the history of the 20th century the type of word governance that we want to promote in the WPC is actually articulated around a U.N. system which is becoming more and more legitimate with some regional organizations that are more structured and more solid than ever from this standpoint and with the different additions of our conference we have highlighted the importance of the average powers and the necessity for every and each state to include the structural stability of the international order when taken into account the formulation of its own national interest this is not easy because of the accumulated past and also the tendency of the different peoples by re-interpreting the banned times of their history and to stimulate nationalism thereby otherwise we need to be more tolerant and more open the most fundamental causes of globalization are scientific and technological especially the digital revolution one of the paradoxes of the contemporary word is that the fear will lead us to nationalism whereas reason will lead us to looking for new governance rules and new rules of governance to move towards the vast spaces which relate to climate environment and towards some communities which are always getting smaller and smaller and close geographically therefore states should work towards looking for new balances between these contradictory tendencies in the short term each one actually is thinking about Spain with Catalonia or the United Kingdom with we here we are meeting for the third time in Marrakech this is a beautiful country which has a sort of view towards the four directions in towards the north towards the south and to the east and to the US and I think with its continuous quest with a better word governance the word policy commerce has a comparative advantage and potential one in the north and south axis which is including Europe and Africa without exclusion with regards to the other continent because we are contributing to the maintenance of an open world by reminding this geopolitical objective at the large plane I would like to express my gratitude to the Kingdom of Morocco which is hosting us with great elegance and hospitality thank you we hope to deepen our partnership a partnership which is actually taking momentum with the years it is high time that we included and to say excellencies ladies and gentlemen to say that we are living in an unprecedented era compared to the previous eras while specifying that the the sort of encounter between the past and the sort of reemergence of memories and the future with some transformations that are unprecedented with some speculations that are founded in the dreams of the people from one hand we have some beliefs that are entrenched in humanity and on the other hand as some other fantastic imaginations that man that could be actually be at risk past by the machine that he has created awaiting that will be transformed into God in our present the two masses that is the past and the future are not coexisting and their shock could lead to the bad or to the worst and the word policy conference belongs to the people who are actually believing that humanity is actually moving towards more knowledge with the balance with between the with the present without giving up to the pessimism thank you very much