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E-Commerce Must Jump Regulation Obstacle

http://www.techweb.com/printableArticle?doc_id=REU19990607S0012

E-Commerce Must Jump Regulation Obstacle
By Reuters
Jun 7, 1999 (2:09 PM)
URL: http://www.techweb.com/wire/story/reuters/REU19990607S0012

MONTE CARLO, Monaco -- The Internet promises to revolutionize the world of business, but first, a few hurdles must be overcome. Early in the next century, IT devotees said they believe e-commercegenerated over the Internet will become a ubiquitous force.

[...]

U.S. research company Forrester Research said it predicts the global Internet economy will be worth $3,200 trillion in 2003, up from $80 billion in 1998. In 2003, the Internet economy will account for 5 percent of the world's gross domestic product, according to Forrester, in Cambridge, Mass.

[...]

But some experts say these hopes will not be realized until governments around the world agree on an acceptable framework of rules.

[...]

"You can't legislate totally for something you don't fully understand. We will get agreement, but it will take time. In Europe, we are probably two years away from agreement; globally, it will take many years," Drobik said.

"Governments are starting to get a balance between free markets and genuine protection. We are in a much better state than we were a year ago," he added.

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