But at this point, it's too soon to know whether China will wait or whether it will allow additional moves [in the yuan] -- and therefore, what the impact will be.

I worry that there's this perfect storm coming for emerging markets.

We can't read too much into any one month's deficit, and there were a bunch of unusual factors this time. But this shows that the deficit is increasing instead of decreasing. It raises concern that we need to start seeing adjustment in the global trade imbalances soon.

Companies are seeing some of their fastest growth in China, and it's profitable growth.

We have acknowledged that there are no anticipated job losses that will arise as a consequence of these series of transactions.

A CAT pass is not, and will not, be an option because the school bus drivers are union members. The unions run the schools, and this will not change.