if you are an emerging market investor i'm not sure what [indiscernible] >> john paul smith. mestic market strategist. more on turkey elections this weekend. a strong china and date today. ♪ >> welcome back. we're rejoined j.p. smith. talk about china. we have just had significant trade data. exports are up more than have been expected. imports are decreasing. is that a worrying? it is difficult to analyze china. the data tends to be lumpy. the trade data is distorted a lot. economist. i need to get back and read through what people think about this data. u.k. figuree, the was a 25% increase. that is a big number. the u.k. is the destination for capital flow. a be there is distortion in it. the big picture with china is that while we have seen as the financial markets and the economy is this manic sentiment from investors, and the broader financial community, who go from euphoria to despair. we have seen that cycle this year. he polluted china as a sanguine. -- we saw china as sanguine. now we are approaching a euphoria again. i look at china on a structural basis. i think wha