It's really a change in the macroeconomic environment.

Negative emotions are often functional. They tell you when things need to change about the environment or yourself.

If you ever want to eat a tuna sandwich again, don't go to a tuna factory. I visited one where they had two lines: one was the human food line and one was the cat food line - and they didn't look any different.

The Y2K problem frankly is going to be seen in the developed countries. The emerging markets are going to be in much better shape than the U.S., Japan or the European countries.

China and the U.S. have a very symbiotic relationship which will not decline any time soon. There are more shared interests as compared to shared differences and for this reason relations will continue to be good.

We're very bullish on emerging markets right now because of valuations, ... Valuations are so reasonable it makes sense to put money in.