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The risk list we do has a conceit of only looking at 12 months in the future. If this wasn't just 2023 but was the next five or 10 years, then China would be number one. But they're very similar risks and they shouldn't be because Xi Jinping increasingly rules China the way that Putin rules Russia,. The Supreme Leader rules Iran, the way that Mark and Elon rule their companies. They don't get great inputs. There are a lot of yes men surrounding them. And as a consequence, you can get really big sudden mistakes that come out of the Putin's decision to invade Ukrainewas a colossal misjudgment.
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