David Solomon

But ultimately, the economies are very, very interconnected.

It's hard to pull them apart.

And I'm not a big believer in deglobalization.

I am a big believer that as geopolitics and policies shift, that there are marginal changes in the way people think about, you know, the economic structure of their nation.

I think we're at a moment where more nationalism is being bred.

I don't think that's great.

But when you step back and talk about big structural changes, they're much harder and they take a long time and they certainly outlive what I'll call shorter political cycles.

There's a lot of noise at the moment around these issues.

Some of it's still in the construct of an active negotiation.

At the end of the day, the economies are massively intertwined.

And while there will be changes at the margin, you know, I don't think our economic teams believe that the long-term structural shifts will be real.

But at the end of the day, I think people

When you get through the noise, people will do what's in their economic interest and there'll be a more balanced result than some of the rhetoric we're hearing right now.

But, you know, watch the space.

Watch what happens.

You know, Canada, for example, a huge trading partner, China, huge trading partner.

I think China's in a place where things are more de-escalated for the next 12 months.

We'll see what comes out of that.

We obviously have a President Trump visit to China and a Xi visit coming back this way.

So there's a roadmap this year to see if there is more progress in that bilateral relationship.