  We define notions of direct and inverse limits in an $n$-category. We prove
that the $n+1$-category $nCAT'$ of fibrant $n$-categories admits direct and
inverse limits. At the end we speculate (without proofs) on some applications
of the notion of limit, including homotopy fiber product and homotopy coproduct
for $n$-categories, the notion of $n$-stack, representable functors, and
finally on a somewhat different note, a notion of relative Malcev completion of
the higher homotopy at a representation of the fundamental group.
