Michael Stewart

Prediction is a chancy business. Nevertheless, one cannot consider policy without making some general judgments (or if you like assumptions) about likely developments. My first assumption is that the countries of the Alliance as a whole will continue to have the resources and dynamic to contribute to shaping the future. We are not and shall not be simply in the position of having to respond to events. The combined gross domestic product of the countries of the Alliance is 55 percent of total world gross domestic product. Our present share of world trade is also 55 percent. I assume that there will be no substantial recession in world trade, and I believe that we shall at least maintain our share of it. There should therefore be no lack of material resources for the countries of the Alliance. Nevertheless, our ability to attain the objects of our policies will be limited by various factors.