China's COVID and Fiscal Policy Challenges CAPX

There's just seems like there's so much more policy choices and credibility of policymakers that you must have to think about today. It definitely makes one have to be more nimble, but I actually think it also makes the CAPX decisions to solve some of the supply side challenges even more difficult because of all these uncertainties. The uncertainty bands are certainly wide. And I think that's part of what is also contributing to a lot of the constructive nature in the market which really challenges CAPX.