The made in China 2025 plan is just one of many industrial policies that Xi Jinping has put forward. I think what surprised many people was that this particular plan was very public and very detailed. It laid out 10 areas of key cutting-edge technologies that China, Xi Jinping says, must be dominant in. We're looking at things like electric cars, for example, semiconductors, and certain areas of transportation.
It remains to be seen, of course, whether China achieves this goal, but if they were to actually achieve a dominant position in most, if not all, of these areas, it really would pose a threat, I think, to many countries that have leadership and of course multinational corporations that have really significant market share. I think the Germans in particular are very worried, as are the Americans.