And the winner is…

The 20th Congress of the Chinese Communist Party ends tomorrow, and at that point, there will be a communiqué and the lineup of the leadership of China will be unveiled. With that, analysis can be made, conclusions can be drawn, and a sense of direction will be established. We all have suspicions about what the direction will be, but to try today to say anything would be entirely useless. The lockdowns around the country appear to be becoming more resolute and that means the social strains and economic impact continues to grow. Interestingly, the economic data for Q3 was supposed to have been released earlier this week, and was not. What to make of that is also impossible to say. So we simply wish you a calm and stress-free weekend and hope that the announcement that follows the end of the Congress is beneficial to you, whatever your situation may be.