we are back with stephen parker, head of asset strategies. what camp are you on?een: we think we may overshot in the near term, but the direction the next ex-twelve-month is probably higher -- the next six to 12 months is probably higher and that's a good thing. we are getting back to a more normal growth environment. -- weakness in the u.s., things are going to get better in the second half. alix: we're looking at europe, for example, worth of 2% of -- in 2016. the growth before was just 2/10 of 1%. that means it the back half past two that much better to meet the target. stephen: yes, but things are looking a lot better if you look at global growth. we are starting to push on the pedal a little bit in china. we are seeing signs of places picking up in emerging markets slowly. but we are focused on a more global recovery rather than one that is focused on the u.s., it indicates a growing economy. the fed is pretty accommodative. global some still key to what is going on in market growth. alix: in terms of how you want to invest, what is the best country question