 In American baseball, a sport which I'm sure all of you are intimately familiar, the manager usually puts the most powerful hitter in the number three spot in the lineup. So Dr. Jha, you're at the plate. If you could give it the eight minutes, I would appreciate it. Thank you very much, Marcus. It's a great honor to be here to share with you some of my views. Probably I'll talk a little bit, you know, expand a little bit larger the topic. I think uncertainty is probably the keyword to capture the situation of Asian security. It is uncertain at least for three major reasons. One is that we seem to be witnessing an emerging rivalry or strategic rivalry between China and the US. Americans appear to be more and more concerned about the rise of Chinese military, especially the rise of Chinese naval capabilities. There are a lot of people predicting that we will have more confrontation in the South China Sea over the construction and on the features of the concern by the concerned parties and also their military activities on the constructed features. So we're talking about China, Vietnam, the Philippines and these countries may continue to do certain things and then we will see military frictions and confrontation. And also the Trump administration appeared to be ready to give a speech on the so-called free and open Indo-Pacific. So some people say this is an American strategy to forge some kind of alliance in the region against China. And of course there are a lot of Chinese also very wary about what the US is going to do. So we have been talking about trying to avoid the so-called lucidity strap. But it seems to me that we're moving in that direction if only that we are not there yet. It's also uncertain because the territorial and maritime disputes remain very much alive between China and India among the South China Sea claimants and also between China and Japan in the East China Sea. Despite the fact that the situation there has been improving, it appeared to be stabilizing. However, things can happen. Frictions may rise again anytime in the days to come because there are no formal agreements as to how to manage these problems so far. The situation is also uncertain because of the North Korean nuclear threat. North Korea government has resisted international pressures, disregarded international sanctions in its effort to push for its nuclear weapons program. This has prompted President Trump's threat to take a preemptive strike. A lot of people are nervous. We are too. But it seems to me that the chance for that to happen is increasing. Even if that will not happen, we still have a problem of the outbreak of a crisis in North Korea in a number of scenarios. One is a failed nuclear test made touch of a crisis in North Korea. You never know. Some people say, you know, given the backward facilities that North Korea have in developing nuclear weapons, failure can happen sooner or later. The second scenario is an earthquake induced by the test would touch off or bring alive the volcano in the Changbai mountain between China and North Korea. That could have a disastrous effect both in terms of environment and also in terms of human lives. The third scenario is the UN initiated another sanctions induced crisis in North Korea. The sanctions are becoming tighter and tighter. Sooner or later, if North Korea continues its nuclear program and missile programs, we will see a day that China would totally cut off oil supply to North Korea. This may bring some problems, great problems in North Korea domestic politics. We don't know. And of course, there is also another scenario that's factional struggle within North Korea government and party. Some people have expected this to happen long time ago. So far, it hasn't happened. But that does not mean that it will not happen. You never know. And finally, US pre-emptive strike may touch off a crisis in North Korea. So crisis situation has become more likely because of the recent developments. The good news is that first, President Xi and President Trump seem to have gotten along with each other so far. It's quite impressive that these two strong characters find each other respectful. And they are likely to work together to address the North Korea nuclear issue. So President Trump is going to visit Beijing. We'll see the result. The second good news is that the relations between China and its neighbors, especially Japan and South Korea, are improving. So this may lessen the tension and help to manage the disputed territories and maritime interests in the East China Sea. And finally, I think the shared interests and stakes between China and the US are much larger than many people realize. Many people have been saying these two countries are getting at each other very soon. But I think they have too many and too much stake to worry about to do that. Hence, despite uncertainty, Asia's security may not be doomed. I think the best we can do is to hope for the best and prepare for the worst. Let me stop here. Thank you.