 John Lipsky, welcome. You're a former, very senior person at the IMF and your distinguished economist. You've just been on a panel in which one of your fellow panelists accused in a sense the economy of being held hostage by leaders who are actually followers rather than leaders. What does that mean for the future of global finance? Well, first of all, there's certainly been a tendency in recent years for governments to claim competence over the performance of their economies, even though the role of private sector and private finance in fact has grown relative to the overall economy. So the challenge is really a difficult one of making policies coherent and consistent, not only domestically but internationally if they're going to succeed, but they're being held accountable for things that in practice, over things that their influence is only marginal. So it is a challenge and I think what was being said was that in response, the political leaders slash followers tend to focus on what they think is going to produce a very quick response. And time for the next election? Well, even the next news cycle. But in fact, one would presume that the truth will out in the end and one would hope that leaders that are in fact leading in a direction that is fruitful will be rewarded. Why did the U.S. waste political capital, if you like, by opposing the formation of the Asian infrastructure bank, the China-led bank? Well, there are a number of ways of viewing that, but I wonder if what was one of the driving considerations was the fear that under no circumstances could U.S. membership be approved by the current U.S. Congress and therefore a decision was made rather than to say we're for it but the Congress won't let us. So yet again, the leaders are hostage to short-term politics? I fear that might have been the case. It certainly was not the U.S. administration's or the government's finest hour, was it? Indeed. Well, final point. How do you find the WPC? What role can it play in resolving these issues? Oh, resolving is a big chunk, but in contributing to the dialogue, it's very useful. For example, for me, I come here very happy because I know I'm going to hear different voices than I hear typically at home. I hear various views represented all over the world from folks who have both a lot of knowledge and a lot of experience. That's always very useful. John Lipski, thank you so much. Thank you.