China's Second Wave of Shutdowns

China for the last year and a half has imposed a number of different measures that may have had a different primary driver but their end result of them were to constrict resource consumption. I think in many ways China may have seen this resource scarcity issue coming a lot earlier than the rest of the world did so my base case is that they continue to kind of fluctuate in and out of rolling shutdowns because that serves their purpose.