I appreciate this post it’s highly interesting although I will have to read this several times to get a better grasp on all it’s content. Is it a general consensus in your industry that China’s economy will become “secure enough”? I’ll show my ignorance; My perspective (albiet limited) is that a significant part of it is subsidized by the government and has little to justify it’s current strength and valuation (similar, but not the same as to Japan in the 80’s?).