I just want to make a small correction or addition to that. Property and casualty insurers are not investors. Our role in the financial markets is different from that of banks and life insurance and health insurance companies, in the sense that we are not wealth managers; we are risk managers and risk poolers. That's our vocation in the markets, to share with you the risk, to help you manage that risk, and that's what we use our dollars for. So it's a bit of a different vocation.
I would want to say with respect to the manufacturing sector that smart companies are always going to be there. The relationships they establish with their insurers, with their banks and so on, will help sustain them in that vocation.
I had the pleasure, for example, of talking to David Foot at the University of Toronto, a great demographer. If you look at the demographic pyramid of China today, China has an aging population. They're going to be facing the challenges that you and I are talking about today in 10 to 15 years. China is not going to be the lowest-cost producer in 10 years. That's going to change the shape of the world dramatically.
So many of the trends we are seeing today are not necessarily the ones that we will see going in the future, which is why we need to make sure we have a solid manufacturing core in Canada.