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region accounts for 15% of global trade. is it unusual for two sovereign nations to launch these kinds of attacks to protect commercial interest? it is a bit unusual although not unprecedented. there are a number of choke points, particularly for shipping, where it makes a juicy target if you have either terrorist intentions or if you have intentions of making money off of seizing ships. we have seen that in the past, and what i think is unusual this time is the intensity of the weaponry being used and the likelihood of escalation. there is a real threat and a real challenge. looking at the asia region and the impact here, we also obviously just had the taiwan election and we will have to see what happens with the semiconductor ecosystem because of that, but what impact do you see these attacks in the red sea having on the asia pacific