 Over the last 30 years. Over the last 30 years. Over the last 30 years. Over the last 30 years, one of the most important lessons that we've learned is the impact of trade on growth is much less direct than we thought it was. So, for example, before we were looking at developed countries and developing countries. They would trade together and that would lead to development in both countries. However, today we know the way that we need to look at this is a little bit more nuanced. So, for example, there are differential effects among sectors and among skill groups. And in fact, we've even gone further and we're looking within sectors and within skill groups. And we're seeing that there's much more lumpy effects of trade. So, it's not quite as straightforward as we thought it was 30 years ago. The second thing is the rise in importance of South-South trade versus North-South. So, 30 years ago, it was perfectly legitimate to look at the relationship between the North and the South. But today we know that's much more complex and that's not exactly how trade happens. So, South-South trade, particularly when you're thinking of China as a growth poll, is particularly important for developing countries and has a much different impact than the North-South trade way that we had analyzed before. The third difference that we've seen over the past 30 years is that the impact of supporting factors of trade matter as much or more than, in some cases, liberalization itself. So, 30 years ago, liberalization itself was the goal. But today we know that liberalization is not going to benefit growth and development and poverty reduction in all cases. So, take the example of Tonga, which is one of the ADB's member countries. And Tonga has a very liberalized trade regime, has fairly high poverty as well. However, one thing to remember is they didn't have internet access until about five or 10 years ago. And until 2013, it wasn't affordable. So, in 2013, they completed the submarine cable at the price drop by 60%. So now, if you're an exporter from Tonga, you can actually access buyers, which was the limitation before. Over the next 30 years. Over the next 30 years. Over the next 30 years. Over the next 30 years. One thing that I think will inform research and policy is a different definition of what it means to be developed. So, for example, in our Pacific states, we're moving towards a policy of niche product exports. And the reason is, when you're very distant, the only way you can be competitive is to export a very high-priced good. This won't lead to structural transformation, but it will lead to growth, jobs, and some other positive impacts that we're looking for in terms of development. The second thing is the rise of China. And a lot of our developing countries looking towards China as a way to move forward. Now, a third way that we see research moving forward comes from better analysis that's available for the poorest countries. Now, one thing that's been a problem throughout time in trying to analyze the poorest countries is the lack of data. A lot of countries don't have input-output tables. A lot of countries don't report trade data. So, we do funny things like use proxies or mirror data. This is not great, but increasingly, and particularly over the past five years, we've seen additional data on some of the poorest countries, which enables us to have a much more precise analysis of what's going on and to enable us to better target policy.