shimon peres 298.88.
(photo credit: AP [file])
Speaking about the future direction of the country's economy, President Shimon Peres said at the annual meeting of the Federation of Israeli Chambers of Commerce on Wednesday that globalization has taken the place of nationalism and boundaries in today's marketplace.
"It seems that today territories and boundaries have lost their importance," Peres said. "In the world of today, science has taken the place of the earth and the place of the government has been taken by the globe."
Peres added that today's world proves that empires could be established without colonization or an army. "You just need to look at the empire Bill Gates has built and look how much power he has."
Talking about the Israeli economy, Peres said that the unprecedented growth of the country's economy was not the success of the government but of people taking initiatives, talent and entrepreneurship.
"We always thought that Israel would be an industrial country but it turns out that we are too small of a country for this goal and therefore we are turning into a powerful research and development country," he said.
At the annual meeting, Uriel Lynn, FICC president, was re-elected to head the organization for another term.