tom: david weston, how can workers be hurt anymore? there is a huge problem with income inequality in this country and around the world, which can give rise to social instability. even within this new world, there are some new companies. think apple, with very large margins. they are making good profits. richard: certain players are going to do well. with this widening of the googlesn -- the apples, are doing well, but the average company is not. , itthe last 30 years double, variability in terms of that. david: how interesting. where do we go next? u.s. companies, european companies need to realize the world is changing. david: if you are a ceo, what do you do? richard: you need to understand where companies are. : interest rates have gone down -- richard: you are able to do that in a way you were not able to before. companies need to be paranoid. competition,he new what do you and don barton say when you go to beijing to consult people? what do you tell them? richard: the chinese are becoming global players. tom: but they just went t

weston make assumptions about where commodity prices goal. a key influence. -- also to bring trying to make assumptions about where commodity prices go. davidworst to come. in many ways a long cycle industry and we saw the huge chinese up cycle. a huge, long cycle on the downside. if you look for bottom in this cycle, you will see a lot more dramatic down. companies in at europe. which was do you like? look at the pharmaceuticals and beverage and tobacco companies. those kind of areas. anna: is it the yields you like? you have to be confident it will be sustained. david jane: not having to make a call on the economic outlook. a lot of uncertainty about the rate cycle and what the impact of china will be. let's sit back and the definitive. anna: are you in the camp that set the west will carry on as it was and will see recovery in the eurozone and u.s.? and despite what is happening in china? david jane: that seems to be the way you lean. let's not make the call yet. we do not know how we china will be or the impact on the exporters in the west especially in japan. we will reduce our exposure to japan to reflect that uncertainty. that willdo