To retrace a little bit what I said in that speech, and indeed what we've both been talking about on a number of occasions...being right beside the United States, historically, has been a wonderful thing. It has been one of the biggest and growing markets in the world. But the reality is that while the U.S. is still the biggest economy in the world, it's in a grinding, deleveraging recovery, and that's going to go on for some time. We are seeing recovery in the United States, and the governor highlighted a number of positive signals, but they still have a big fiscal adjustment, and it's going to be a modest recovery.
What that means for our businesses is that it's going to be more about fighting about share of the U.S. market than it will be about being part of a rapidly growing market. Where our exporters need to devote more attention in developing markets is in those rapidly growing markets, where all boats can rise with the rising tide. That speaks importantly to Asia and to parts of Latin America.
Then, getting to trade, clearly trade is a big part of that. Traditionally, Canada has been a big proponent of multilateral trade. Unfortunately, the multilateral trade negotiations have ground to a complete halt, so the government very appropriately is moving aggressively to develop, both with individual countries and various regional programs particularly focused on emerging markets, the Trans-Pacific Partnership that you mentioned, and there are engagements with China and with India. These will take some time, but these are certainly positive steps.
We talk a lot about developing those foreign markets. We talk a lot about how we're going to raise productivity. These are essential elements in that future.