Thank you very much, Mr. Burton, for joining us.
I know you said that your projections about China have not always been accurate in recent years, but I still would like you to gaze into your crystal ball.
When I arrived in Radisson in the Northern Quebec municipality of James Bay, the site of Quebec's hydroelectric jewel, I was surprised to see three flags flying in front of my hotel: the Quebec flag, the Canadian flag, and the Chinese flag. I was very impressed and the following thought came to mind. We export Canadian and Quebec technology that is used to build dams, even dams in China. China will be able to build dams and to produce cheaper hydro-electric power. As a result, aluminum plants around the world will close, among other things.
The Three Gorges dam is the largest hydro-electric project under construction in the world. I know that we are getting close to the subject of raw materials. Aluminum is not just a matter of energy. Salaries account for 15% of the costs associated with producing aluminum. The issues here are hydro-electricity and energy.
Based on your knowledge of China, what do you see in store for this country in terms of hydro-electric development and the ever-closer relationship between the aluminum industry and the forestry industry, for example? Wood is harvested in Russia, cut into pieces on boats and the waste is then thrown overboard.
I would also like to hear your views on the environment, but you are likely going to run short on time.
What do you see in store for China's industry, primarily in terms of its hydro-electric industry?