prof. levy: no, but i will look at it later. i have heard these claims, especially from our president, and i don't think he has a deep understanding of trade. when he says, we have lost 800 billion dollars, that is an overstatement of the magnitude of the trade deficit, but let's assume he had gotten the number correct. it is the same as saying we gained that much in investment. there is an accounting identity that neither he nor wilbur ross understands. this goes a little bit far from the theory of individual rights. savings minus investments equals exports minus imports. if imports are greater than exports, a means investment is greater than savings. so the same thing we call a trade deficit can be translated into a capital account surplus. so i have two headlines, the u.s. trade deficit goes up and people say, oh my god, that is bad. the same facts in another headline -- more foreigners invest more in our economy. that doesn't sound negative. they are actually the same. they are simply the same. so, the question about chinese