Bloomberg Audio Studios.

Podcasts, Radio News. Single best idea. What a wonderful day, just a terrific,

set of guests. You're in Timmert, fidelity. You know, they put out decks. Every

guest puts out like 20 pages, 12 pages, 40 pages of smart stuff.

That's the competition of Global Wall Street.

In my single page from the many decks that really has my attention is

Urian Timmer at Fidelity looking at use of cash the earnings that come in

what percent goes to dividends what percent goes to share buybacks and numbers now 73% of earnings of

SPX goes to the shareholders in some form or another.

I think it's just an incredibly important statement

in this bull market that has its own character,

to say the least.

What a wonderful morning to welcome back Elizabeth Economy to the show.

She has been an advisor to Gina Raimundo at the Department of Commerce

here through the Biden administration.

She's been pretty much invisible.

She is a government official advising the delicacies of commerce and China.

And now she has left commerce and we are thrilled to have her in today.

Elizabeth Economy, of course, iconic for the river runs black on environment, pollution

and China, a whole number of other books as well.

But in the immediacy, a blistering article in Foreign Affairs magazine,

sort of a clarion call of America to wake up. Here is Dr Economy on the new China.

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