Thank you very much, Mr. Chair, and again, thank you to both of our witnesses.
I have to say that I'm not feeling terribly reassured. The testimony we have received today has certainly opened up more questions for me than answers. I recognize that you have said Canada is naive and is perhaps late to the table. Many countries are.
One thing you said, Mr. Payette, that really struck me was, “if you lose, you lose”—ho-hum. Unfortunately these are investors who are using other people's money, so there are some challenges to that as well.
Could both of you very quickly comment on that? Knowing that is the case, what federal role is there in warning investors and making sure investors understand the risks? What federal role is there in making sure that investors are being held responsible for the particular, perhaps too risky, decisions they make with regard to China?
Mr. Arès, why don't you start us off?