Meanwhile, Wal-Mart has also announced that itis having a China rethink, admitting it had made mistakes in its haste to expand and saying that it has cut by one-half the amount of new square footage that it will add in the country.
Chinaisin a cyclical slowdown phase currently because itis digesting the investment it has made so far, but for the long term we are bullish as it begins to rebalance away from an export-oriented economy to one much more focused on domestic consumption.