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[indiscernible conversation] good morning and welcome. I would like to thank our witnesses for their testimony and staff for preparing todays hearing, and thank you to the commissioner, it is an honor to cochair with you today. While this Commission Deals with a variety of issues in the u. S. China relationship, todays hearing focuses on a topic that has rightfully emerged at the forefront of the policy debate in both chambers of congress in recent months, technology. While much remains uncertain about the 20 20s and 20 30s, recent events have made it unmistakably clear that technology will be...

[indiscernible conversation] good morning and welcome. I would like to thank our witnesses for their testimony and staff for preparing todays hearing, and thank you to the commissioner, it is an honor to cochair with you today. While this Commission Deals with a variety of issues in the u. S. China relationship, todays hearing focuses on a topic that has rightfully emerged at the forefront of the policy debate in both chambers of congress in recent months, technology. While much remains uncertain about the 20 20s and 20 30s, recent events have made it unmistakably clear that technology will be...

[indiscernible conversation] good morning and welcome. I would like to thank our witnesses for their testimony and staff for preparing todays hearing, and thank you to the commissioner, it is an honor to cochair with you today. While this Commission Deals with a variety of issues in the u. S. China relationship, todays hearing focuses on a topic that has rightfully emerged at the forefront of the policy debate in both chambers of congress in recent months, technology. While much remains uncertain about the 20 20s and 20 30s, recent events have made it unmistakably clear that technology will be...

[indiscernible conversation] good morning and welcome. I would like to thank our witnesses for their testimony and staff for preparing todays hearing, and thank you to the commissioner, it is an honor to cochair with you today. While this Commission Deals with a variety of issues in the u. S. China relationship, todays hearing focuses on a topic that has rightfully emerged at the forefront of the policy debate in both chambers of congress in recent months, technology. While much remains uncertain about the 20 20s and 20 30s, recent events have made it unmistakably clear that technology will be...

Factors we accept that Economic Cost like in high value pharmaceuticals and the margins will bear out the cost of development but right now for the Industrial Products or products for the ag sector the same costs still exist today but the margins are not there for the products. So it creates an imbalance and were seeing more capital flowing towards medical products with high margins than some of these industrial applications. Dont get me wrong, the cost will come down as technologies increase but the funding cycle we are right now with the markets being like they are impact some other than oth...