Given the extraordinarily high prices being fetched across Europe for licences to operate 3rd Generation wireless networks, to say nothing of the added cost of building and operating those networks, how are 3G operators going to make back their money? The answer, surprisingly, is not "by providing the connection". Many licensed operators have valued their licences at much less than the licence fee alone.

      The difference is most likely to be made up from the sale of content that will travel through the pipes of 3rd Generation networks. The operators will not just charge for the "call" anymore, but will take a cut of the cost of the conversation, that is, of the information that will be provided across their networks. If you buy a car on line, be sure there will be a cut for the person who owns that line.

      The good news is that the rest of the world will be able to provide the content of the 3rd Generation networks. Markets don't need to have up-to-date telecommunication infrastructures to be able to supply content. This may not close the "digital divide" that is emerging between developed and developing countries. But it will allow content providers in all countries to sell their services - globally.

      A caution: in order to make sure that all markets can be suppliers and consumers of content over 3rd Generation networks, organizations such as the WTO and the ITU will need to make sure that liberalization of content-related industries takes place soon. This must happen across developing countries as well as Europe and the US. Audio-visual quotas, financial services, telecommunications services, even delivery services will need to be addressed soon - in some form. Whether the next trade round can initiate this liberalization, or whether it just responds to the situation as it is, will depend on the will of the member governments. Right now that will is wanting.

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