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Internet to fuel trillion-dollar trade, Nortel study

excerpt from Reuters:

OTTAWA, Jan 31 (Reuters) - Construction costs for the Internet will more than quadruple to reach $1.5 trillion in 2003, according to a study released by Nortel Networks Corp <NT.TO><NT.N> and consulting firm International Data Corp.

Nortel, one of the world's largest communications companies, said spending on Internet infrastructure will even outpace the investment in electronic commerce in 2003.

The study, released on Sunday at the annual meeting of the World Economic Forum in Davos, Switzerland, suggests the global Internet economy will reach $2.8 trillion by 2003.

The forecast suggests the Internet and electronic commerce will represent the world's third-largest economy -- or 7 percent of global gross domestic product.


"Nortel Networks has been doubling the bandwidth and halving the cost of fiber-optic networks every nine months," he added.

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