Thank you, Mr. Chair.
I'm going to be sharing my time with Mr. Adler. I will ask the first question and then I'll pass it on to Mr. Adler.
A large part of your update notes that economic conditions in Canada are, to an extent, dependent on what happens in other countries, particularly other advanced economies. Would you elaborate on how what's happening in other countries is different from what's happening in Canada and how that will impact Canada?