ruchir shara is the head of emerging markets at morgan stanley and author of "breakout nations." welcome, ruchir. >> you have a powerful presentation on china you made in the "financial times" and other places and i want to take you through it. we have your charts here. the first point you make is if china slows down this is going to be a big problem because if you look at it, china's contribution from global growth which used to be 10% only a decade ago, is now 36%, which is essentially almost twice that of the united states. so it is the single country that has been powering the global economy. so if it falters, you say, watch out for everyone. >> exactly. the old saying use to be, the u.s. sneezes the rest of the world, now we have to watch out if china has a major tumble the rest of the world will be impacted by that. that's what's been impacting u.s. stock markets and developed world, that if china really slows down they know this is going to have an impact in the u.s. as well. >> the reason you think china is going to have an impact, you have a great chart on this, china we