 Our council is really facing the challenge of a trading system in which the multilateral trading system seems to be losing its centrality and people are negotiating all kinds of very large regional agreements. And the big challenge for us is how can we revitalize the multilateral trading system. And the fourth industrial revolution sets the context in which we are talking about these challenges. That's because jobs are now being relocated in many parts of the world and we used to worry about offshoring but now we have reshoring that's been made possible by new technologies. And so we have to think about those challenges. Another very big issue facing our council is data and the internationalization of data. On the one hand there's great potential for firms to use data globally. On the other hand there are governments who are very concerned about questions of privacy and questions of national security. So how do we have a trading system that can have rules that somehow get the balance right between using these new technologies on the one hand and preserving national sovereignty on the other.