goods.
25% of those goods go to europe.
so china's been hurt badly by
the european recession, too,
programs more than we are.
no matter how hard the chinese
government tries to simulate
it's on economy the people's
republic is an export driven
nation and the slow down in
europe crushed their efforts.
we see the efforts of that
slowdown pretty much with every
piece of data coming out of
china, including weak data last
night.
europe got so bad that many of
our major companies have been
reporting shortfalls or
slowdowns.
almost all the industrial
companies we talked to have been
hit and it's europe.
all of technology, even google.
think about these industries,
travel, finance, oil and gas,
chemical, steel, you name it.
even the food and drug companies
as the europeans trade down in
record numbers and their
government stopped paying for
reimbursing for many of the
revolutionary medicines
developed here in this country.
don't believe me?
why don't do you this, why don't
you go back and...