\frametitle {Notes for Denoon conference @ NYU}
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1. Thank you, I'm delighted to be here.

2. This is joint work with Espen and Tom.  It's work in progress,
and not focused on China, although China plays an important role
here as it does elsewhere.

3. The issue is international capital flows.  We argue that in the
developed world, low-frequency movements are linked to demography.

4. China remains something of a mystery, but I can be more specific
about that later.

5. Capital flows have become a contentious issue, in both policy
and academic circles. -> quotes

6. We'd prefer to change the language and look at the evidence.
Plan of attack:  evidence, model, discussion.

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}