China Is in a Bear Trap

China is in a demographic trap. They have no pension system. And the other thing is they have no replacement population for those people. That's why the crisis is going to hit them in about 20 or 30 years. On top of that, they've got all of this stuff. We're still watching as far as I'm concerned that the Evergrande fall out with what's going on now with the real estate and people not paying their mortgages. There's something going on too.