White House Unveils
E-Commerce Initiative
By Bonnie S. Hyde
Senior Editor, E-Commerce Times
December 1, 1998
To keep America at the cutting edge
of the Information Revolution, and to
sustain the rapid growth of the "new
economy," U.S. President Clinton
has asked Vice President Gore to
continue efforts to promote electronic
commerce and will direct several Cabinet agencies to
make progress in five critical areas.
The new Administration efforts in support of e-commerce
growth will include:
Protecting consumers from cyber-fraud. The Commerce
Department will work with the Federal Trade Commission
to educate consumers, promote industry self-regulation,
and ensure that existing laws against fraud can be
enforced in the global marketplace.
Ending the "World Wide Wait." The Commerce Department
and the office of the United States Trade Representative
(USTR) will work with the Federal Communications
Commission to pursue policies that will increase private
sector investment in high-speed networks capable of
carrying voice, video and data.
Encouraging small businesses to get online. The Internet
can help give a small business the global reach and
presence of a multinational company. The Commerce
Department and the Small Business Administration will
encourage small businesses to get connected. For
example, they will ensure that government information and
services that are used by small businesses are available to them online.
Getting a clearer picture of the digital economy. The National Economic Council
will lead an inter-agency effort to measure the impact of the Internet and
electronic commerce on the U.S. and the global economy.
Promoting the Internet and electronic commerce in developing countries. The
Secretary of State will initiate a program to spur the spread of the Internet and
electronic commerce in developing countries.
Cisco Systems president and CEO John Chambers, speaking at the White
House meeting on e-commerce, praised President Clinton and Vice President
Gore for supporting high-tech policies that create jobs and economic growth.
"President Clinton and Vice President Gore have shown remarkable leadership
building an Internet Economy that is reshaping the fortunes of countries,
companies and people," said Chambers. "Some very smart people in our own
high-tech industry once dismissed the Internet as a fad. Now, more than 70
million Americans use the Net, 44 million have shopped on it, $2.8 billion in
online retail sales will change hands this holiday season and 15 million
Americans researched mortgages online last year," added Chambers.
As remarkable as those statistics sound, they pale in comparison with what the
Internet will mean for the economy in the next decade.
"By 2003, an estimated $1.5 trillion in annual E-commerce is forecast and by
2005 over 1 billion people will be online worldwide. High-tech will also directly
create 1.8 million jobs -- one in every 9 new jobs in the United States," Chambers
said.
"With Internet leaders and government working hand in hand, America can look
to a bright horizon filled with hope," said Chambers. "To achieve that, government
and business leaders, and teachers and parents, must accept the challenge to
give everyone access to the Internet and a quality education."
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