frank lavin: i am in the second group. -- and this is consistent with chinese political culture. he is not there to be defensive. his message is we took the right steps to safeguard china's health. it is almost a defiant or resolute posture he is taking and it is accepted and amplified by the party structure. that is for today. my guess is when we start looking at january, we will see some experimentation and reduction in quarantine for international visits and a lighter touch when it comes to lockdowns and a slight move away from zero-tolerance. the chinese government tends to move incrementally and i don't think they will move until next year. haidi: really great to have you with us. frank lavin, former u.s. undersecretary of commerce. as we count down to the gathering g20 heads of state in bali, you can get more in depth and discussions and analysis. more ahead. this is bloomberg. ♪ kathleen: let's get a check of the headlines. j.p. morgan chase has reported the highest interest on record. the lender also raised guidanc