Great info as always - yesterday I decided to watch some of 60 minutes and the head of the IMF was being interviewed (sorry can't remember her name but her backstory is very impressive) and in discussing the international loans and the numbers that can't pay China was an important topic because they have loaned a lot of money to a lot of countries that are now upside down (not like Australia or NZ). Interesting times.I think it may be premature to right off the initiative, at least partly because it is to important, economically and geopolitically for the Chinese. I think they got carried away with it initially and spent like drunken sailors (who had lots of money of course). They may have to write off loans and be more judicious in where they invest but they need it to succeed. They do think in generational terms rather than in terms of when is the next election. But I could be wrong.