I think he's right. There is a race to the bottom as far as tax rates go, and it is something that needs to be addressed on a multilateral basis.
The G-8 is a perfectly good place to try to do it. That's not the only place, of course, but it's always better to...[Technical difficulty--Editor]...these things on a multilateral basis than any one country, no matter how large they are, trying to go it alone.