joining me is henry mcvai. he's with a global investment firm. henry, it is wonderful to have you on the program. >> nice to be here. >> let me kick it off with the global story. you're back from spain, is that right. >> yes. >> and asia? i want to hear about your trip. china was the engine of growth for the world. that's slowing. >> right. >> what do you think is going on out there. >> why don't i start with china and we'll work towards europe. the message from china is that growth is slower than the consensus. estimates need to come down. i think the big story is that the export economy in china, they've been the manufacturer to the world. that's starting to slow down. they don't have demand from europe. they don't have demand from the u.s. so i would expect that to start to affect people's perception of china as a growth engine. i still think it will be the single biggest growth vehicle out there but it just won't be if growth was here, it needs to come down. so i think we'll go through an adjustment period. >> what did you see in spain? everyb