A pause is really us pausing future direct investment activity in that country as it relates to our private investing portfolio.
The reason for the pause was really driven by our assessment that the risk landscape in China has substantially changed over the last two to three years. In U.S.-China relations or Canada-China relations, the shifting economic trends in a post-COVID world as well as some of the domestic regulatory changes that were made in China all signalled to us that there was a change in risk profile. Our key mandate, frankly, is to deliver on our risk-adjusted return goals. As part of that, as risk increases, we need to evaluate how much exposure we want to have in China from a top-down perspective. That really led to the decision to pause that particular set of activities.
