pete terseburg. interest rates rise. steve has more from the international economic forum in st. , steve. >> reaction to what ben bernanke did and didn't say but also looking at the chinese pmis and the concern that people have of that driver of global growth is slowing somewhat. the chinese always want to slow to create more sustainable long-term rate as well. we're not talking about immediate market reactions in st. peter'sberg, we're working out a reaction to growth and making money regardless of qe tapering and chinese pmis. a lot of big ceos, let's see what they've got to say about the u.s. economy and the broader environment. >> we thought north america would be very strong for us. we actually look across the first quarter and three-quarters of continuous growth so we saw pretty good growth in the first quarter this year. very much the mobility. but, still, we are not investing at the moment. they are a little bit hesitant. >> it didn't change our strategy on the pmi of this week. when we're going to newer economies, i remind you we do 40% of our business in new economies, n