The impact for these industrials from China a much more. While 8% may be tied to revenues from China, there will be more implications fkr those that also sell to China. For example, I am sure that the Chilean Copper mines that sell to China will also reduce their expenditures in Caterpillar due to slower demand from China. We are now globalized so impacts have multiplier effects.
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That's a great point, confirmation that Caterpillar is a great short longer term in my opinion.