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The Changing EnvironmentGlobal pressures are creating both opportunitiesand threats for the Halifax Gateway.pressure for further policy and regulatory reform willincrease rather than subside. This will increase thetrend towards globalization and continentalization.Increasing International TradeInternational trade currently accounts for over50% of world GDP, and with the emergence of theChinese and Indian economies, this figure is expectedto grow even more in the future. Increasing worldtrade is synonymous with increasing internationalcargo and passenger volumes, and success will accrueto those gateways that offer the best service quality,value, and prices.Economic GrowthThe global economy is projected to continue growingat relatively healthy rates in 2005 and 2006(4.3% and 4.4%, respectively). Over the longer term,however, two key structural changes are expectedto significantly affect the world’s economic climate.Firstly, future global GDP growth will be significantlyimpacted by the emergence of the Chinese andIndian economies. Secondly, the global economy willbe affected by fundamental changes in the world’s population(population growth will continue to slow, theworld’s population will continue to age, and the shareof the working-age population will fall in advancedcountries and increase in developing nations). Theseprojected demographic changes will have a dampeningeffect on future GDP growth.Several key issues must be addressed if the regional,provincial, and national economies are to takeadvantage of increasing global trade throughimprovements in gateways and corridors.Policy and Regulatory ChangesSince the late 1970s, the removal of regulatory barriershas permitted increased efficiencies in the transportationof goods and passengers. This has benefitedbusinesses and consumers alike across NorthAmerica. As transportation companies becomelarger, more efficient, and more globally focused, theBuilding the Halifax Gateway... A New Vision for the Future7