THE VICE PRESIDENT：
Thank you very much. Mayor Han， I appreciate the kind words of introduction. And we're delighted to be here today. My wife and I are privileged to have the opportunity once again to travel in China. We are grateful for the welcome we have received， especially for the kind of reception here at Fudan University. We thank you for the honor， and we bring you good wishes from President George W. Bush and the people of the United States.
I know that many of you will soon graduate from this great university. I am told the standards are extremely demanding here， and a degree from Fudan University signifies years of hard work and discipline. I congratulate each one of you on your achievement， and I commend your teachers for upholding the tradition of excellence that marks the 99-year history of Fudan University.
I hardly need to tell you that you are beginning careers in a nation remarkably different from just a generation ago. My first glimpse of China came in 1975， when I traveled to Beijing with President Gerald Ford and Secretary of State Henry Kissinger. That was only three years after President Richard Nixon had paid his historic visit to your country. Mao Zedong still held power. The aftershocks of the Cultural Revolution were still being felt. There were some hopes of reform， but people largely kept those hopes to themselves.
Those were the latter years of a difficult era for the people of China. When America and China set out to restore diplomatic relations， it was in part because we perceived a common challenge in the Soviet Union. Yet America leaders understood something else， as well. They knew that in China， beneath the harsh conformity of that era， lay the diversity and the boundless energy of a great people. In the decades since， as more freedom and opportunity have come to this land， you have only begun to show the world the creativity and enterprise of your country.
Each of you is a witness to that potential， in what you have learned and achieved here， and in your own hopes for the future. Twenty years ago， almost to the day， President Ronald Reagan spoke at this university and expressed the essence of economic and political freedom. It is based， he said， on a belief 搃n the dignity of each man， woman， and child.？ Free institutions， he said， reflect，appreciation of the special genius of each individual， and of his special right to make his own decisions and lead his own life.？
Compared to President Nixon， or even President Reagan day， many Chinese citizens are now freer to make their own way in life —— to choose careers， to acquire property， and to travel. And across this land are many millions of young people just like you， with their own abilities and their own expectations of a better life for themselves， their families and their country.
On the path of reform that began a quarter-century ago， the Chinese people have made great strides. Over the past twenty-five years， China rapid and sustained economic growth has lifted the living standards of many citizens and raised China into the ranks of the world largest economies. You have reduced poverty， and in recent years， have consistently reported high economic growth rates. This dramatic economic progress shows what is possible when governments leave more decision-making power in the hands of private enterprises and individuals. Above all， it is a tribute to the Chinese citizens whose talents and daily efforts are making this a vibrant modern economy.
China economic success has also come about through far greater integration into the world economy. In the last two decades， your country has emerged as a major exporter of all kinds of manufactured goods， from heavy machinery， to computers， to toys. China has gained enormously from access to foreign markets. Its development has also been fed by vast inflows of investment capital —— over 50 billion dollars last year alone —— and by imports of foreign technology， and the ever-increasing quantities of energy and raw materials necessary to sustain growth.
Today over five percent of all trade conducted in the world —— some 850 billion dollars —— is accounted for by China alone. And China two-way trade with the United States has grown seven-fold in just the last 12 years.
Continued economic progress will require careful stewardship. As your new generation of leaders knows， rapid growth can lead to social and economic challenges at home. And as China gains in economic strength， it also takes on new responsibilities for keeping the global economy in balance. As your leaders and I discussed， in this interdependent world， nations have a responsibility to lower barriers to imports， to protect intellectual property rights， and to maintain flexible， market-driven exchange rates. We are working together on these vital issues.
China progress is part of a much wider story. So many of the great nations of Asia began the 20th Century ruled by colonial powers， or by dynasty， or bitterly divided by civil strife. And throughout that century， ideologies of violence and malice took hold in Asia， as they did in Europe， and caused terrible harm and grief. Now the people of Asia are writing a different chapter. Great nations in this region have entered the 21st century as independent peoples， growing in prosperity and individual freedom. The dramatic changes in Asia —— from Beijing to Tokyo， from Seoul to Singapore —— have removed many old sources of conflict， and lifted millions of lives.
In the past half century， Asia has been transformed from a war-torn and impoverished region into the world biggest and fastest-growing center for the creation of wealth and knowledge. Throughout this region， one nation after another has enjoyed the benefits of greater prosperity. But not prosperity alone. Across Asia， rising prosperity and expanding political freedom have gone hand in hand. When people have the liberty to manage their own lives and to enjoy the fruits of their labors， they work hard and contribute more to the well-being of their societies. And when they experience the benefits of economic liberty， they desire greater freedom in expressing their views and choosing their leaders.
Freedom is not divisible. If people can be trusted to invest and manage material assets， they will eventually ask why they cannot be trusted with decisions over what to say and what to believe. The insights that foster scientific discovery are not suddenly lost when the topic turns to society ills. Prosperous societies also come to understand that clothing， cars， and cell phones do not enrich the soul. Economic growth is important in allowing individuals to lead lives of comfort and dignity， but material goods alone cannot satisfy the deepest yearnings of the human heart； that can only come with full freedom of religion， speech， assembly， and conscience. And that lesson， too， is part of Asia legacy in this last 50 years.
The desire for freedom is universal； it is not unique to one country， or culture， or region. And it is something that successful societies， and wise leaders， have learned to embrace rather than fear.
The United States of America welcomes the great progress of your country， as we welcome the continued expansion of economic and political freedom across Asia. As a Pacific nation， we benefit， as you do， from trade across the ocean and from the growing vitality of this region. And as a permanent presence here， America， like China， has a vital national interest in stability， and in peaceful relations among Asian peoples.
Yet today we know that the peace and stability that all civilized nations seek are under threat， as new and grave dangers continue to gather. In nations around the globe， terror networks have plotted against civilized people， and have grown bolder in their destructive ambitions. And in this age of rapid technological advance， we face the prospect that deadly weapons might fall into the hands of terrorists. The ultimate threat is that these problems —— terrorism and proliferation —— may one day come together in a sudden， catastrophic attack by terrorists armed with chemical， biological， or nuclear weapons.
The spread of terrorism and the proliferation of weapons of mass destruction are a direct challenge to every nation that seeks to build a more open， stable， and prosperous world. For that reason， our countries have been working closely to overcome both of these threats. Since my country was attacked on September 11th， 2001， the United States and China have worked together to apprehend terrorists and to prevent them from killing more innocent people. The recent kidnapping in Iraq of citizens of several countries， including China， speaks to the dangers we all face. Today we are sharing information and working together to strengthen the U.N. counterterror capability and on a vital container security initiative to protect ships and ports. As we deepen our cooperation， however， we must also be mindful of the rights of the innocent. The war on terror must never be used as an excuse for silencing legitimate dissent and expressions of opinion.
China is also accepting its responsibilities to join in stopping the spread of weapons of mass destruction. The peoples of Asia are particularly vulnerable to the dangers of proliferation. Many countries that have the means to develop the deadliest weapons have refrained from doing so. Yet if governments perceive unchecked proliferation in the region， they might feel compelled to choose a very different course. And that could only heighten the dangers to this region and the likelihood that one day those terrible weapons would be used.
The dangers of proliferation have not always been fully appreciated. In the past， the technologies that permit the development of sophisticated weapons and delivery systems were sometimes exported without much thought to the long-term consequences. The United States was therefore very pleased to see China declare new restrictions on the movement of those technologies. It is now essential that those restrictions be vigorously enforced.
President Bush and the American people are also greatly encouraged by the Chinese government decision to take a leading role in the efforts of the international community to persuade North Korea to completely， verifiably， and irreversibly dismantle its nuclear programs. We must see this undertaking through to its conclusion. Because of the Pyongyang's regime past history of irresponsibility and deceit， the removal of all of its nuclear capabilities is absolutely essential to the peace and stability of Northeast Asia， and the world.
Controlling the spread of terrible weapons is one of the most urgent priorities of our new century. We have no alternative but to act with all the diligence， and more， of the rogue states and terrorists who wish to acquire such weapons for the threat they pose to innocent people. That is the course we are on —— and the course we must maintain far into the future.
Confronting and finally defeating the danger of terrorism will also be a long and difficult struggle. That's why my country， in consultations with other nations， is committed to pursuing what President Bush has called a forward strategy for freedom in the Greater Middle East. Some nations in the Middle East have had great wealth， or possess the resources that can bring such wealth. But national wealth alone is not enough. To fully and finally overcome the evil of terrorism， we must set before people of this region an alternative to tyranny and corrupt government that has for so long held all too many back. And that alternative is found in economic freedom， equality under the law， individual liberties， and the right to choose and change one government.
The Greater Middle East initiative supports those across the region who are working for freedom. And we are beginning to see signs of significant progress. In Jordan， elections have been held and the government is taking steps to reduce state control of the press. In Bahrain， elections were held last year. In Egypt， the ruling National Democratic Party has called for increased economic reform and expanded political participation. In Saudi Arabia， the Crown Prince has issued a reform charter and called for the holding of municipal elections. Today， with the help of the international community， and after decades of oppression， the people of Afghanistan and Iraq are preparing to choose their own leaders in free， competitive national elections.
We welcome China contributions to reconstruction efforts in these lands， so that their people may live in security and freedom， never again victimized by despotic regimes that breed or support terror.
While democratic processes are sometimes untidy and unpredictable —— as any close observer of American politics can attest —— they permit the peaceful expression of diverse views， protect the rights of the individual， check the ability of the state to abuse its power， and encourage the kind of debate and compromise that leads to lasting stability. And this much is certain： free societies do not breed the anger and radicalism that drag down whole nations.
Where young people have the opportunity to choose their own leaders， to build a better life for themselves and their children， and the right to guide their own destinies； peace， justice and prosperity will follow. Freedom has a power all its own， requiring no propaganda to find recruits， no indoctrination to keep its believers in line.
We hear it said by skeptics that the greater Middle East is a hopeless cause for democratic values —— that the peoples of that region are somehow just not suited for self-government， and that they are doomed to live in misery and oppression. Those of you who have studied history will find that this dismissive attitude has a familiar ring. Not so long ago， the very same things were said about the people of Asia. Yet today the world looks to Asia as a showcase of the possibilities of human enterprise and creativity. Across this region we see entire nations raising themselves up from poverty in the space of little more than a generation， building strong， modern economies， and becoming stable， peaceful， and open societies of free peoples， governed under laws set by representatives chosen in free elections.
Today China too is embarked on a great journey. As your country grows in regional and global influence and responsibility， your strength and your potential rests with your people.
My wish for each of you is for a life in a nation that grows in success， in greatness， and in liberty. I thank you for your kind attention this morning， and now I'd be pleased to take your questions. （Applause.）
MODERATOR： Thank you， Mr. Vice President. Mr. Vice President， the first question will come from the left side of the auditorium， then we'll alternate right to left.
Q： Good morning， Mr. Vice President.
THE VICE PRESIDENT： Good morning.
Q： I am a PhD candidate of international relations. My friends and I believe that China's peaceful right is beneficial to the peace and prosperity of the world. Some American people， however， regard China as a threat. Could you please give you comments on these —— opinions？ What impressed you most during your visit in China？ Thank you. （Applause.）
THE VICE PRESIDENT： The people of the United States have been tremendously impressed with all that has been achieved in China in recent decades. There clearly was a time in our history 50 years when we were adversaries， when we fought against each other in the war in Korea， when I think we viewed one another as a significant threat. I think that's changed.
And today given the common interest we have in trying to promote peace and prosperity in this part of the world， we work together on a great many issues that are to the benefit of the peoples of both nations. There's no question but what we still have differences， places where we disagree over various issues. But my conversations yesterday with your leaders in Beijing， I think it would be fair to say we agreed that the areas of agreement are far greater than those areas where we disagree， and that there are no problems there that can't be resolved given sufficient efforts and goodwill and adequate time on both sides. Working together， especially in the economic arena， has been beneficial to the peoples of both countries. And with the right kind of leadership there's no reason why we should perceive each as threats in the future. （Applause.）
Q： Morning， Mr. Vice President. I'm a major of international politics， honored to have such a chance to raise my question to you. We Chinese are concerned about reunification of our country， but sorry to see some performances of the United States over the years， such as arms sales to Taiwan. So my question is， what actions will the United States take to honor the commitment of one-China policy and no support of Taiwan independence？ Thank you. （Applause.）
THE VICE PRESIDENT： The policy of the United States on the issue of Taiwan has been consistent for some considerable period of time now， and has been stated by President Bush. We support the principle of one China based upon the three communiques， and the Taiwan Relations Act. We think that it's important for discussions and dialogue to go forward between Beijing and Taipei， that if any changes are to occur with respect to the current the circumstances in the strait， it should be through negotiation. We oppose unilateral efforts on either side to try to alter the current set of circumstances.
And our position with respect to the Taiwan Relations Act， the piece of legislation that governs our policy in the United States， is that we are obligated under that act to provide Taiwan with the capacity to defend herself， should that be necessary. And we do that through the process of selling them military equipment from time to time.
But overall， we do， in fact， support the principle of one China， as I say， as informed by the three communiques and the Taiwan Relations Act. （Applause.）
Q： Good morning， Mr. Vice President. I am a second-year graduate student from the school of journalism. Today， it is a great honor for me to witness this great occasion. My question is， it is said that you are the most powerful Vice President in U.S. history. Can you tell us how you play a role in the Bush administration？ Thank you. （Applause.）
THE VICE PRESIDENT： Well， that's not a question I had anticipated. The role of the Vice President has evolved over the years. When our Constitution was written in Philadelphia at our Constitutional Convention， they created the position of Vice President. But when they got to the end of the convention， they decided that they hadn't given him anything to do. He had no work. So they made him the President of the Senate， that is the presiding officer over our upper house of our Congress and gave him the ability to cast tie-breaking votes. When the Senate is deadlocked 50-50， then I get to cast the tie-breaking vote.
For the first 150 years of our history， the Vice President had virtually no role in the executive branch with the President. He was simply there to take over if something happened to the President， but he didn't have any day-to-day responsibilities. That changed during the Eisenhower administration over 50 years ago， when for the first time， the Vice President was given an office in the executive branch. And since then the responsibilities have gradually increased.
The amount of influence you have， or authority， if you want to put it in those terms， is based strictly upon your relationship with the President. When President Bush asked me to become his Vice President， he indicated that it was because he wanted me to be part of his team to help govern， that because of my background， having been a chief of staff for President Ford， a Secretary of Defense for former President Bush， a member of Congress， that he felt I brought certain experiences that would be useful to him in carrying out his responsibilities as President. And we've had a very close working relationship ever since.
But as I say， any influence I have strictly comes in terms of my ability to offer advice. I'm not in charge of any department or agency. And I also work closely with members of Congress because I still do preside over the Senate and spend a lot of time on Capitol Hill， as well， working to get congressional approval of our legislative programs. So it's circumstance.
I've seen other arrangements where the relationship between the President and the Vice President wasn't close， and the Vice President basically had little to do except ceremonial functions and frequently attend funerals. （Laughter.） So I've been fortunate.
Q： Good morning， Mr. Vice President. I am a student from the school of journalism， and it's my honor to be here to raise questions of you. And my question is about the Iraq issue. As you know， we want to see the peaceful life that the Iraqi people live and live by themselves. But you can see these days many conflicts happens every day and everywhere in Iraq. The casualties of both citizens and soldiers are increasing. My question is， what do you think the role of the United Nations should take during this period？ And we know that on June the 30th， the American people will transfer the region to the Iraqi people. And what's your opinion， do you think then the situation there will be out of control？ Thank you.
THE VICE PRESIDENT： The situation with respect to the United Nations in Iraq has been at present that Mr. Brahimi， who is the representative of the Secretary General， has been there now for a couple of weeks working actively with our officials， as well as Iraqis， to develop the concept of an interim government that will take over on June 30th， and then be responsible for governing the country until elections can be held early next year. Their responsibility would last six or seven months. But as I say， Mr. Brahimi， of the United Nations， has been a major participant in developing that plan.
We're eager to have the United Nations involved. I would expect going forward， as a constitution is written and elections are held in Iraq， that the United Nations would play a significant role in terms of providing technical advice and support for those endeavors. The U.N.， of course， originally went into Iraq and had a significant presence there until the attack on its headquarters. And then they pulled out primarily because they were concerned about the security threat to their personnel.
But the United States stands ready to work closely with the United Nations going forward. As I said， we've been pleased with Mr. Brahimi's role， and we're eager to support active U.N. participation in the process of standing up a government of Iraq that's democratic， but broadly representative of its people， and not a threat to its neighbors.
Q： Good morning， Mr. Vice President. I am from the school of management. Thank you for the speech. My question is related to business and trade. As we all know， the rapid growth of Sino-U.S. trade benefits both America and China. However， since last year， we have witnessed more and more trade frictions between our two countries. Our government hopes to solve the problem through dialogue and negotiations. So my question is， in your opinion， what is the prospect of trade relations between our two countries？ And do you think that the U.S. presidential campaign will further aggravate the dispute with China？ Thank you. （Applause.）
THE VICE PRESIDENT： There are a number of points of friction， as you say， between our two countries on trading questions. I don't find that surprising given how extensive the relationship has become. China has now become our third largest trading partner in the world. The amount of commerce back and forth between our two nations is by our estimate $180 billion a year. We buy a vast quantity of good manufactured here in China， shipped to the United States. We sell you goods and products and agricultural products， as well. Right now， the balance is very much in your favor —— that is you sell more to us than you buy from us. We think that will change over time as your market opens up more and more as you implement the agreements under the WTO. We think that's appropriate.
The areas where we have work to do fall in the area， for example， of intellectual property rights. And some of the other areas where there are standards that have been applied by your government that we believe unfairly penalize or discriminate against U.S. products. These are normal kinds of issues to have between trading nations.
We have a plan next week I believe —— there will be a delegation from your government traveling to Washington for something called the JCCT. It's a joint commission to address issues of trade. And that's the way for us to deal with those issues. But I don't find it surprising that there's friction. I think that's simply a reflection of the fact that the economic relationship has become so close， and there's such a high volume of trade back and forth on both sides.
Let me also —— on the question the young lady asked earlier about Taiwan， it occurs to me that I didn't completely answer the question. There's one item she mentioned that I need to be clear on. And she asked me specifically about the question of Taiwan independence. And the position of the United States has been and continues to be that we do not support Taiwan independence. That's —— I'll restate again our posture is that we —— （applause） —— we support the one China based on the three communiques， and the Taiwan Relations Act， and we're opposed to unilateral efforts on either side of the strait to change that relationship.
Q： Good morning， Mr. Vice President. I'm from journalism department. It's my great honor to raise a question here. We know that the presidential campaign this year is a competition between two Yale graduates. In your opinion， what's the key factor to win the election？ And there are more and more Americans living and working in China. So what will you do to win their support？ Thank you.
THE VICE PRESIDENT： The reason I pause is because I attended Yale， as well， as the President， and Senator Kerry. But I did not graduate. （Laughter.） And I thought you were going to ask me about that.
We're eager to work with American citizens overseas. There are —— both， here in Asia， and as well， in Europe —— organizations. In my party， I'm a Republican， we have an organization called Republicans Abroad. And that's where American citizens who get to vote in the United States by absentee ballot have clubs and organizations and host speakers， sometimes raise money to support the candidates of their choice. So we welcome the participation of American voters， wherever they may live， in the election.
And you may remember in the last election， a very， very close election that was decided by just 537 votes in Florida， probably the closest presidential election in our history. That probably turned， as much as anything， on absentee ballots， on votes cast by citizens of Florida who were abroad at the time either serving in the military， or in some other capacity. And if they had not voted， the outcome of the election might have been very different. So those votes of Americans living overseas are very important. （Applause.）
Q： Your honor， Vice President， thank you for your speech. I am a graduate student majoring in international relations. My question is simple —— my classmates and I are concerned about the Korean nuclear issue. My question is very simple： Do you think the problem could be solved peacefully？ And what role do you think the United States should play to push the six-party talks forward？ Thank you. （Applause.）
THE VICE PRESIDENT： We believe the North Korean development and efforts to acquire nuclear capability is one of the most serious problems in the region today. It was a subject that I discussed with President Hu Jintao， and Chairman Jiang Zemin， Premier Wen， and Vice President Zeng in Beijing. Our concern is that North Korea has in the past entered into agreements to give up its aspirations to acquire nuclear weapons in 1994 and then subsequently violated that agreement. We know they violated that agreement because we now know that they developed a secret program to build nuclear weapons using highly enriched uranium.
And one of the things we've learned in recent months —— you may recall that after we began our operations in Iraq， that Colonel Ghadafi， in Libya， decided to give up his effort to develop nuclear weapons， and all of that material， all the designs， all the equipment and so forth， uranium that he had acquired for that purpose has now been turned over to the United States.
Mr. Ghadafi and the Libyans acquired their technical expertise， weapons design and so forth from Mr. A.K. Khan， Pakistan. And we now know that Mr. Khan also provided similar capabilities to the North Koreans. So we're confident that the North Koreans do， in fact， have a program to enrich uranium to produce nuclear weapons.
We think the way to resolve this matter， to achieve the objective that China believes in， and we believe in， which is to have a nuclear-free Korean peninsula is for North Korea to agree to the complete， verifiable and irreversible dismantlement of their nuclear weapons capabilities. To date， they have not yet agreed to do that. We are trying through the six-way talks with the active leadership and participation of China， in hosting those talks and participating in those talks —— together with the United States， South Korea， Japan and Russia —— to persuade the North Koreans that this is the proper course of action， that if they want to have normal relations with the rest of us —— and given the sad state their economy， they obviously need outside support. In order simply for that regime to survive， they most understand that no one in the region wants them to develop those weapons.
We'll continue to work closely with China and the other members of the group and do our level best to achieve this objective by diplomatic means， and through negotiations. But it is important that we make progress in this area. Time is not necessarily on our side. We worry that given what they've done in the past， and given what we estimate to be their current capability， that North Korea could well， for example， provide this kind of technology to someone else， or possibly to， say， a terrorist organization. We know that there are terrorist organizations out there like al Qaeda that have sought to acquire these kinds of weapons in the past. And we need to stop that proliferation so that it doesn't happen， so that our nations are not threatened by those developments.
Finally， of course， as I mentioned in my speech， there are nations in the region that have the technical capacity to produce nuclear weapons who have not done so. But if North Korea becomes a nuclear power， and has ballistic missiles， which it does， and has the ability to threaten other nations in the region with nuclear weapons， then those nations may conclude that their only option is to develop their own capability. And then we'd have a nuclear arms unleashed in Asia， and that's not in anybody's interest. So we hope we can be successful through diplomacy at achieving our objective. But it is vitally important that we achieve this objective. （Applause.）
Q： Good morning， Mr. Vice President. I'm majoring in political science. It's my great honor to meet you here. My question is， I have learned that the Blue Ridge of the U.S.'s Seventh Fleet visited Shanghai last month. As a former secretary of the defense department of the United States， what do you think of the communications between the Chinese and the U.S. militaries？ Thank you. （Applause.）
THE VICE PRESIDENT： I think it's important to have exchanges back and forth between our militaries. I think we can learn from one another. I think those kinds of communications are very positive in terms of building the relationship， also in terms of enhancing understanding and reducing the possibility of miscalculation in the future. So I wholeheartedly support those kinds of exchanges. I think they're a very positive contribution to the relationship between the U.S. and China.
MODERATOR： Mr. Vice President， this will be our last question.
Q： Good morning， Mr. Vice President. I am a junior student from the school of international relations and public affairs. I learned from the website of the White House that you have two daughters and three granddaughters. Do you often get together with them？ Would you suggest them learning Chinese？ （Laughter.） We Chinese students are eager to communicate with the youngsters in the U.S. So do you have any suggestions for the young generation in our two countries？ And in addition， in the next year， we will have the 100th anniversary celebration of Fudan University. So do you have anything special to say to us here？ Thank you. （Applause.）
THE VICE PRESIDENT： My wife is over here looking to see what I'm going to say. （Laughter.） Well， I do have two daughters and three granddaughters. And we're about to have a fourth grandchild come June， and we're told it's going to be a boy. （Applause.） As a matter of fact， this will be the first time in about 60 years there's been a boy born in our family. （Laughter.） So he's going to have a difficult time， I'm sure， growing up， surrounded by all those women.
But I think it's very， very important that we do everything we can to encourage exchanges and Americans living and working in China， and Chinese living and working in America. Our Ambassador， Sandy Randt， who is with me today studied Chinese as a young man， lived in Hong Kong for many years， of course， is serving now as Ambassador to China. I've got people working for me on my staff who spent years in China， growing up here， or have studied here， as well. Those kinds of exchanges are very important. There are a great many Chinese students in U.S. universities. And that can only benefit both countries long-term. I think it's something to be encouraged every chance we get， and I certainly would want to do everything I could.
With respect to the hundredth anniversary of Fudan， University， that's a very significant development —— 2005. It's obviously become a very important university. I know from looking at the history of it a bit， I remember when President Reagan came 20 years ago to speak. And given your location in Shanghai， and it's， I think， one of the finest universities in this part of the world. You're able to attract an outstanding student body. Obviously， nothing but outstanding students here today， and we want to wish you the very best and congratulate you on achieving that milestone of a hundred years， and wish you great success for the next hundred years， as well， too. Thank you very much. （Applause.）