David Menzies and David Carey

Those who doubted the power of the Internet -- and there were many not all that long ago -- are probably still rubbing their eyes in disbelief. Just look at the numbers: by 2003, International Data Corp. estimates that the amount of commerce conducted over the World Wide Web will reach US$1 trillion. Intel, meanwhile, predicts that Internet users will hit the one billion mark by around the same time. But beyond all the hype and great expectations, one question looms larger than all the others: which nations will be the winners and the losers in the global electronic economy?Prominent Canadian IT executive Peter Watkins, the former CIO for the Canadian Imperial Bank of Commerce, has strong views when it comes to that question. And he raises some real concerns as to which side Canada will end up on.In his paper, <I>The Digital Economy and the Wealth of Nations</I>, Watkins calls into question many of the assumptions regarding the digital economy. For example, he maintains tha