For most sectors, R&D (research and development) intensity is higher in the U.S. than in the EU. Most strikingly, in office machinery and computers, research intensity in the U.S. is three times greater than in the EU.

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If something is at a historically low level, then of course it can't stay there forever.

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The Internet's capacity to unleash enterprise is beyond question. We must now show that its infrastructure can be run fairly and effectively to the benefit of all its users.

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This gap underlines the need for continued and increased efforts to restructure, innovate and adapt new technologies. Behind the successful and innovative companies are always people with ideas and a willingness to take risks.

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In bad times, short-term issues often come to dominate the policy agenda. However, neglecting our long-term priorities in the present economic slowdown would be a serious mistake. Only a dynamic and competitive enterprise sector can pull our economies into a new upturn.

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