Thanks, Joël.
I'm sympathetic, Mr. Kucharski, to what you said about state-owned enterprises. Last session the committee unanimously recommended that when a state-owned or state-controlled enterprise was involved, there would be an automatic security review. I'm also sympathetic to this idea of a broader strategy rather than taking it case by case. I'm certainly sympathetic to the idea that we have to be especially cautious in the case of countries that have weaponized trade in the past.
When I get to the nuts and bolts of this one, I just want to be clear on the details.
Mr. Volpe, just so I'm clear on what your testimony was, you said that location matters. You said, “Local, local, local.” Is that correct?