Shaw Economics Division July Telecommunications is changing, both in Canada and around the world. No longer can countries be telecommunications islands. The technologies employed by telecommunications and cable television companies in Canada and elsewhere are undergoing a rapid transformation; consequently, so are the services they can deliver. No longer do these enterprises rely exclusively on copper wire or coaxial cable as their primary transmission media; increasingly, their networks use fibre-optic cable, which carries information on a pulse of light, and wireless systems, which make use of the electromagnetic spectrum.
The Internet, a network of computer networks, and its amazing array of new software applications is also a revolutionary means of carrying information that both complements and competes with more traditional means. These technology developments also foster the globalization of commerce. Combined with new, relatively low-cost transportation, the new seguin trade party video by gc technologies and services have led to the proliferation of trade beyond the traditional borders of nation-states. Moreover, a disproportionate share of this trade is conducted by multi-national or, more precisely, transnational seguin trade party video by gc, whose investment decisions appear increasingly to be made strictly on economic grounds rather than on accidents of history or geo-politics.
This new environment presents Canada with the serious challenge of remaining competitive internationally amid threats to its traditional sectoral share of such investment.
The "Information Revolution" seguin trade party video by gc be a double-edged sword. This challenge is not imposed only on individuals and their businesses, but also on the federal government, which, as it has the exclusive responsibility for telecommunications and broadcasting policy in Canada, must provide legislation and policy that responds to the social, cultural, political and economic circumstances of the day.
The demise of technologies characterized by "natural monopoly" conditions, and the re-configuration of telecommunications and broadcasting activities along global, rather than national, lines means that public policy must be re-designed accordingly. It must now provide new broad ground rules for incumbent as well as new entrant telecommunications and broadcast distribution companies engaged in both the domestic and international arenas. The significance of this policy reformulation cannot be overstated.
This paper describes the new status of international telecommunications and addresses both the political-economic institutional responses and related international developments. Recent developments and enhancements in telecommunications technologies, along with improved aircraft, liberalized and re-configured "hub-and-spoke" airline networks, international air and ground carrier alliances including code sharing and harmonized frequent-flyer programsand inter-modal transport containers are all contributing to seguin trade party video by gc globalization of markets.
The Industrial Revolution included institutional changes, such as corporate governance charters, limited liability rules, liberalized freedom of contract codes, the emergence of a stock market and aggregated physical and financial capital to take advantage of new production techniques based on economies of scale. The modern corporation was the primary instrument for coordinating these developments. Constraining this revolution, however, was the fact that railways and communications networks were limited to national markets and in some aspects subject to natural monopoly conditions.
International transportation and communications networks thus came about by "pasting" developed country networks on to an international grid with minimal and monopoly linkages. Obviously, this structure did not greatly consider economic efficiency; other economic and political pressures would have to bring this about. Recent innovations in transportation and communications, however, have pushed corporate-based production beyond the boundaries of national markets and natural monopoly.
The dissolution of conventional boundaries between telecommunications, cable television and computer activities is paving the way for the convergence of information carriage services in the "Information Highway. Direct competition can take place only after complete deregulation. Moreover, the newest telecommunications technologies are contributing to the birth some say re-birth of alternative distribution channels, such as direct advertising, novel marketing and selling strategies, and retail-warehousing systems.
These enable companies to better take advantage of "just-in-time" inventory, electronic data interchange, and computer systems for airline reservation, electronic banking and shopping, in order to enhance the traditional manufacturer-wholesaler-retailer distribution chain, or to circumvent it when this is economically feasible. More direct distribution systems, made possible by the modern information technologies, obviously transcend national borders and offer savings that will undoubtedly contribute to seguin trade party video by gc competitiveness of the business sector.
Thus, today, corporations on the cutting-edge are acquiring their production inputs worldwide, depending on the best combination of lowest cost and highest quality and reliability; they are also using just-in-time inventory and flexible manufacturing techniques 2 to produce and market more efficiently brands, based on core company products, to an international market with its vastly heterogeneous tastes.
Brand name recognition can conceivably become international now that broadcasting services can be marketed worldwide more economically. Together, these re-configured production and marketing techniques make intra- and inter-corporate communications more critical than ever. The result is increased international and intra-corporate trade, particularly in telecommunications services. International telecommunications traffic seguin trade party video by gc to On a per capita basis, this averages just over nine minutes globally, but The demise of natural monopoly in telecommunications services has also led many countries to gradual liberalization of their domestic markets; that is, to deregulation of prices and market entry and to privatization of former public telephone companies.
These pro-competition policies have provided many opportunities for new companies, which, in turn, have stimulated demand for more and new services.
While industry entrants have been of domestic origin, the more important and substantial de novo domestic competitors have been foreign-based telecommunications companies. It must be remembered that domestic companies are generally seguin trade party video by gc more expensive source of capital because greater financial risk is involved and because they are often further burdened by a prolonged and steep managerial learning curve.
Foreign-based companies, on the other hand whose investments have been direct and indirect, as well as horizontal and vertical seguin trade party video by gc, almost immediately provide the receiving country with effective competition. Through direct foreign investment "DFI"foreign financial capital is provided to a host country company, usually along with imported technology, varying degrees of technological know-how, and managerial expertise.
This capital is of the active, hands-on sort, rather than the passive, institutional variety so these highly-valued tie-ins are seguin trade party video by gc directly correlated with the level of foreign ownership at stake.
In telecommunications, indirect investment, more often than not, means an alliance, but sometimes includes an equity stake through a joint venture company. The benefits of such investments to the receiving country are numerous. The member companies of Stentor, working together, negotiate various relationships with other players. We were trying to develop that technology ourselves, but the costs were prohibitive, and we would not have been able to get it to market at a time when our customers needed that service.
Entering a foreign market offers the investing telecommunications company both strategic and non-strategic demand and supply advantages. Market-oriented investments generally make it easier to serve a customer direct rather than through a third party and, in addition, the companies receive subsidies from the host country in the form of more favourable regulatory treatment than is granted to the dominant domestic telephone company. The driving force behind international alliances is apparently the brisk demand for so-called "seamless" global communications services.
Transnational corporations are seeking to replace their private, in-house tele-communications networks, which have been described as a patchwork of separate but similar services procured from incompatible host-country transmission equipment, built to inconsistent technical standards.
Alliances between world-renowned telecommunications companies linking complementary products and services offer transnational corporations one-stop-shopping and systems-integrated, relatively hassle-free internal and external communications products and services.
Some observers also mention the benefits of currency hedging, which is implicit in one-currency pricing policies. As everyone knows, with the globalization of business and with communications being such an important part of success in business nowadays, there is a great advantage in offering seamless services You really have to team up with operators in other countries to offer those services, and you need to spend the money to develop the software and the platforms to deliver them.
Figure 1 provides an organizational chart of the Concert partnership. Consumers today are becoming increasingly global in their operations. As seguin trade party video by gc result, they want seemless services; services that they can access and that are reliable, regardless of where they are in the world.
In general, they do not care who provides what, as long as they are receiving reliable services that they need at reasonable prices. To help provide these services, telecom companies are also increasingly forming international alliances. They are a sign seguin trade party video by gc these seguin trade party video by gc acknowledge that, regardless of their size and expertise, they cannot continue to go it alone and still provide the type of seemless service their customers are demanding.
The third alliance of the three international majors is the Phoenix Alliance, which led by Sprint Corporation. The organizational structure of this alliance is featured in Figure 3. An international alliance would not, in general, incorporate a mix of large and small telecommunications companies; however, this does not mean that international alliances are restricted to the giants of the industry, nor does it mean that they are strictly global in scope.
We have found our relations with Motorola and Nextel to be most advantageous. Nextel and Clearnet share material interests as operators and as common customers of Motorola. With Nextel, for example, we can offer services at the border. The greater demand for international telecommunications services and liberalized domestic telecommunications are forcing countries, particularly those with persistent annual net trade outflows, to examine the present telecommunications trading regime.
In this regard, a review of the history of international telecommunications is seguin trade party video by gc. From the beginning, international telecommunications were treated as an extension of national telecommunications. Matters of interconnection, technical standards and tariffication were the preserve of the International Telecommunication Union "ITU". The ITU, which is now a wing of the United Nations "UN" and has far more signatory members than the UN itself, was formed in with the merger of the International Telegraph Union which is the seguin trade party video by gc surviving international organization, dating back to and the International Radiotelegraph Convention.
International telecommunications policy matters thus developed in an atmosphere of consultation and cooperation amongst government departments and agencies of ITU member states. Seguin trade party video by gc officials were not trade specialists, rather they were telecommunications specialists; consequently, they were not guided by international trade issues and policy, but by domestic telecommunications regulatory regimes and policies.
Thus, international telecommunications have come to reflect the domestic regulatory objectives of ITU member states, as dictated by former economic conditions when telecommunications technologies were said to be subject to natural monopoly and network externalities. Simply put, collection charges, in part due to seguin trade party video by gc rates, are excessive and discriminatory. Teleglobe Canada seguin trade party video by gc to have an exclusive mandate, or in plain words, a monopoly in Canada on all overseas telecommunications.
Teleglobe rates and services are not competitive. Considerable deregulation has now taken place in many nations. Figures 4 and 5 clearly demonstrate that competitive seguin trade party video by gc have reduced tariffs for international telecommunications services. Business tariffs in OECD countries that have introduced competition to their telecommunications markets declined on average by 8.
Average residential tariffs, on the other hand, have declined by only 3. There are other important changes: While these by-pass methods are seguin trade party video by gc some extent leading to more rational international pricing structures, by themselves they are insufficient to the task. Otherwise, we would not see the large and persistent price differentials between countries with and without liberalized telecommunications markets. Countries without liberalized markets have no incentive to reform international pricing; their monopoly telcos still capture substantial economic rent through high collection charges and accounting rates as their monopoly telephone networks are needed to terminate any telecommunications transaction.
Moreover, ITU procedures are based on secretive and bilateral negotiations for co-operative production of international telecommunications services, with revenues shared by the providers of each member state. Such procedures make it unlikely that there will be any movement towards more rational prices.
While such pricing policies were sustainable in a monopoly era, they are coming under great seguin trade party video by gc for reform in the new competitive environment. With the advent of choice and competition in telecommunications, uneconomic by-pass has emerged as a way of confounding collection charges and accounting rates that are not commensurate with their costs.
Thus, telecommunications are being conducted uneconomically, and all consumers, from liberalized and regulated telco countries alike, suffer as a result. Thus, the large unexploited gains to trade can be captured only in a broader forum that includes other commercial services and goods. NGBT could provide a forum for reaching multilateral agreements on a more open trading regime in telecommunications services, covering issues such as greater seguin trade party video by gc access, Most-Favoured Nation status, and transparency in telecommunications regulations.
First, there would be a greater probability of resolving trade imbalances with countries notorious for excessive accounting rates. Second, it would provide more balanced bargaining power to participants; that is, it would reduce the clout wielded by the U. The promise of an ubiquitous Information Highway is founded on the interconnection and interoperability of telecommunications systems and networks, which, in turn, are founded on agreed-upon international standards for some, but not all, technical aspects seguin trade party video by gc these systems and networks.
As it stands, not all telecommunications facilities and networks are ubiquitous. For instance, most national telephone networks are interconnected and interoperable, even a phone call originating on a touch-tone telephone, connected to a digital exchange in Canada, that goes by way of a manually-operated switchboard to a rotary-dial phone in rural China. The same is true of the Internet, and many national telephone systems around the world. Not all cable television systems are interoperable, however; the various multi-media products and services are also not all interchangeable; and not all IBM and Apple computers are interconnectable.
Global telecommunications networks require international standards set in a forum that would ideally include all nations wishing to use a national Information Highway.
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