By Suzanna Kerridge, 11 July 2000 13:53
NEWS The finance minister of the G7 met in Fukuoka at the weekend for the first time to discuss the consequences of the internet on the world's economy. In a statement the ministers said: "Information technology has the potential to reinforce growth in all our economies, but it is difficult to measure this phenomenon." The ministers claimed the growth of the net economy, in the long term, could however lead to financial inequalities across the world "if the appropriate macroeconomic structures are not put in place." The statement continued: "the internet revolution could involve significant capital growths and increase even more divergences in the economic performance of the various countries." It is up to each company, they claimed, to harness the internet to increase GDP. But the web has had a significant impact on the financial sector as well as creating a demand for skills in certain sectors, said the ministers.
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