 Good morning, ladies and gentlemen. Welcome to the first panel of our conference. We're going to talk about the economic outlook in the context of a rising China. I'm very excited to have a brilliant batch of people here in this first session. And I would like to start introducing the panelists to you. I'd like to start with the minister of Ethiopia, Arkebe Okube, special advisor to the prime minister of Ethiopia, Abiy Ahmed, who you all know, collected the novel. Yesterday, I would like to insist on the fact that Arkebe is part of this, is part of the government, and he is also the mastermind of some of the successful programs that Ethiopia implemented in particular in this sphere of economics. He has written about the transformation of African economies. He's also written about the role of China in Africa, Oxford University press books that I highly recommend reading. Like to continue with Sergey Storschach, right on the right of our seating order here, he is deputy minister of finance of the Russian Federation. He's been in government almost forever. That's what he told me for 25 years and more. So someone who really knows the modern Russia and the economics of it, and I'm looking forward to your insights. Then we have Il Sakong from Korea. He's a long and prestigious career in the Korean government. He was minister of finance from 1987 to 1988, and he has been the person responsible for the success of the Korean G20 presidency in 2010. He's also a scholar. He writes about the economic situation in Asia. He's a PhD from the UCLA University of California, Los Angeles. Then I'm particularly happy to introduce Saladin Mizzouara, the man waving here. I'm introducing you. He started off as a businessman. He's been the CEO of a Spanish textiles group here in Morocco. He's been in government in Morocco for something like 15 years from 2004 to 2017, and he has been covering different positions which is quite impressive from the Ministry of Commerce to the Ministry of Finance to the Ministry of Foreign Affairs. It's very good to have you on the panel. We're going to speak English here, because most of the panelists speak English, and here is the easiest English in the context of the discussion economy. Then I'm happy to introduce to you Naoki Tanaka over there. He's the president of the Center for International Public Policy Studies in Tokyo, an author of many, many, many books, a very long CV, a distinguished scholar, and there's one book again that I can recommend. I've not read it, unfortunately, but I should, because the title is provocative and interesting. The title is The Great Stagnation of China, Disappeared in 2016. Let's see, and let's discuss what you find about the Chinese economy. And then, last but not least, next to me Olivier Blanchard that I think in this room everyone knows. He's the former president of the American Economic Association. He's the former chief economist of the International Monetary Fund. He was there at the helm of this organization in troubling times from 2008 to 2015. He is one of the reasons why the world's economic and financial crisis was managed in a reasonably well way. I would say still we're suffering from it or from the consequences, but the fact that this didn't have larger negative effects I think is also due to him. He is Professor Emeritus from the MIT, Massachusetts Institute of Technology, and he is one of the founding fathers of what we economists call new Keynesianism. And if you had read the news, yesterday Bloomberg ran an article, for example, that speculated who might win the Nobel Prize on Monday. We'll all be here again, still here on Monday and Olivier is mentioned there and we think should be crossing our fingers. It would be so fantastic to have two Nobel Prize winners here in our room. But let's see, this is of course highly uncertain and I know how embarrassing it must be to hear this every year. But the Bloomberg article ended with the sentence saying that there will be a Nobel for those who created the new Keynesianism, the question is just when. So with this introduction, I would like to sketch very briefly how we're going to proceed here. I think we'll have a first round talking about the overall outlook of the world economy and then a second round where we'll look more deeply into the role of China. This is how this session is set up, the context of rising China. And then time permitting in the third round, talk about the multilateralism that goes beyond the concerns that we all have in trade policy, currency and investment topics if we have time.