4 - move into Europe with single-line activities where we have a unique capability and where there is a strong tie with high capability U. S. business. Example was chemical materials in Bergen op Zoom and recently mobile radio in Storno. In Latin America we have significant affiliate manufacturing capability, contributing to the local economies. The example was Brazil hydro, using our Campinas facility coupled to the Canadian hydro capability. In Canada basic strategy is to strengthen our position in a variety of ways such as the CAMCO merger which satisfied Canada's nationalistic objective. Kraar asked why was GE so long in accepting joint ventures. JFB noted that the strategic difference is now we recognize that there are some products where we want to have full control (because of investment, technology, etc.) and there are some products which are not world products, but which are local products serving local markets. In the past we have treated these (within a country) as homogenous. Now we recognize the virtue of finding partners for those products which are essentially local businesses.