Introduction

This is disappointing, but it's disappointing extremely high expectations. These aren't the numbers of a weak economy. We talk regularly on the show about the data we get through in Europe, in the UK, even US yesterday. It's a completely different picture. And if they maintain numbers like this the rest of this year, China is going to still be growing in relevance for the rest of the year. The domestic story will catch up just slower than someone anticipated in the past.