The Positive Case for the Reopening of China

The reopening of China has been probably the most debated theme in financial markets throughout this year. We've been tracking that day and night since November three, I think it was when the first snippets of reopening sentiment, the start to come out from local officials. And we did have dramatic reopening right, the wave ran through the whole country and people started to go back to normal. That essentially peaked out towards the end of March. Since March, are like we track a lot of alternative data. Within excellency data we effectively have a, I wouldn't say a ban, but we try to look as little as they can on official data and just get the real truth from the