Yes, it is gradually slowing its potential growth rate. But that, as I said, is a natural process. We've seen it happen in previous economies such as South Korea. You start off way below the standard of living that's perhaps 15% or 20% of the leader, and over time you make your way up there. The same thing happened in Japan. If you go back to the early 1970s, say around 1970, Japan had a much lower standard of living than the U.S., and it caught up in about 20 years' time.
Those things happen at the same time that these demographics are working their way out. It has to do with technology, productivity, and what upgrading your economy does. Think what agricultural reform could do in a place like China where you amalgamate a lot of smaller farms. It's the same thing in India. You get these kinds of reforms that can unleash a lot more potential capacity in terms of GDP, even with the same number of people. These things are highly unpredictable.