patrick mchenry from north carolina, republican. we will be back in a moment.his is bloomberg. ♪ caroline: kathy woods has been one foreign investor. things fading for chinese companies, at least those listed in the u.s. she feels there is going to be a reset in terms of valuation. joe: there has been a flurry of news. it is down a lot the last three months from april. a flurry of news has been negative around didi and other adrs. joining us, the founder of the life and liberty index. you have avoided china in your indices for a while. you look to em but avoid china specifically. the delisting of the didi app, the nature of how these are structured. what does that say about the nature of investing in chinese adrs? >> we don't have any china in our emerging-market strategy. we do freedom waiting, so it is a low weight. what is happening recently with chinese adrs and the selloff should not have come as much of a surprise to investors. it comes as a surprise because maybe we have mispriced those assets and overpaid for them in the past. it has opened our eyes to

and i agree with patrick mchenry of north carolina, we've had $46 billion out there to help those landlordsand it's been a failure of hud and treasury in this administration to get that money effectively out to help those tenants and landlords. edward: do you feel like that money should be reallocated then? >> i think it should be put out. i agree with patrick, and i'm cosponsor of his bill where we say let's start with rent in arrears. let's get that money out and then let's help these tenants stay in their homes and those landlords maintain their rent rolls so that they can take care of those properties. this can be done and should have been done in january, february, march, ail, pray and -- april, may and june and not be worried about at the end end of july. ed edward: it just seems to me if you open the economy, a number of folks could then get jobs and pay rent instead of putting them on more government programs. >> 100%. edward: is that the solution? >> no, 100%. the economy is opening, people are going back to work. you see that in the statistics. and congress did the right thing at

patrick mchenry talking about the eviction moratorium before it was in place.arlier this week, the subcommittee took a look at rental assistance on issues of eviction, and one of those speaking out was mark green. here is part of his statement from the hearing earlier this week. [video clip] >> the eviction moratorium is almost identical to what government has done to health care. let me explain. as more renters are subsidized with government dollars, landlords, especially mom-and-pop small business landlords, who have one or three properties, they have to cost shift to other people. they cost shift to other renters and that drives up the price of overall rent. you add to that the inflation caused by the increase dollars in the economy with the current administration's economic policies rapidly increasing rates, rapidly increasing inflation, you basically get a horrible spiral that is occurring right now in our economy. and a tertiary effect is also possible or is also there israel -- there and rio. the small rental companies cannot generate the revenue to cove