We're now ready to move forward with our agenda this afternoon.
In our second set of witnesses, we have Clara Portela, who is a professor at Singapore Management University. She is in Singapore, where it is four in the morning. The second witness is Mr. George Lopez, a professor at the University of Notre Dame. Mr. Lopez is on the phone, so you won't see him, but you will be able to hear him.
We'll try to get the technical glitches out of the Singapore call and start with you, Mr. Lopez.