z you a fellow at the ash center of harvard kennedy school and in san gallant switzerland . guido caught c a professor of macroeconomics at the university of san gallon, a warm welcome to you all and thanks so much for joining us today on inside. sorry, andy, let me start with you today. the fact that china, the world's 2nd largest economy is reporting another slump. how concerning is that inside china? and how concerning is that outside of china? what if you have me on and i think this is an incredibly important question mohammed, i think that really we should not be concerned at all. let me provide a little bit of context. we've seen the kind of government when the battle against coven, which started out with the delta v area, which had in r o, we're a reproduction number of about to, to the latest varying which has a are lots of something like 16, which is 8 times as infectious, and about as infectious as the measles, but fortunately, much less lethal. so this is, i think we can understand the rapid relaxation of these very strict coven policies . and what this means is that the fundamental conditions are in place for very powerful economic rebuil