With new coronavirus cases emerging in Wuhan, what does that mean for China?

Well, it means that transmission is very much a concern, even in a country that has the most draconian capacity to keep people in place, quarantine and track and surveil them. So, you've got, I guess, 11 new cases already that they're telling us about. Almost certainly more than that. And they're saying that they're going to test 11 million people in Wuhan in the coming six days. Let's see if they're able to actually get that done. But to be very clear, there is no country in the world that would be able to do broader and more immediate mandatory testing than the Chinese. And what they really want to show, I mean, for all of the backlash internationally for being responsible for the original cover up and the pandemic and also for not handling international leadership well, a lot of the mask diplomacy was more about propaganda than really making a difference for countries that needed the help, but at least in terms of getting the economy running again, while the Americans and Europeans are still locked down, the Chinese are not. And indeed, the supply chain is back up. And that really does matter. And that's what they want to focus on, both for domestic purposes and internationally. So, I think that's a big deal. And we're going to see that China will do everything possible to allow for continued confidence in their supply chain. That matters immensely for Xi Jinping's tenure.