“So, it's a more inflationary environment in Europe, which means we just have to be really judicious about how and where we take pricing in that environment.”

In context

“ntry. As Ian mentioned, there's only two countries that we've actually seen industry growth. But I think, generally, we feel good about the value programs that we have in place in all big -- all of our big five markets. And we're seeing that -- when you pair that with good menu and marketing execution, you can see great performance or very good performance. So, I think Europe, challenged, but, again, if you have the right value and marketing, you can get that. I think the issue in Europe, maybe a little bit different than the U.S., is just it's a very inflationary environment in Europe, particularly because of beef, and so you've got high-single digit inflation running through the P&L because of what's going on in Europe that compares to the U.S., where F&P inflation is low-single digits. So, it's a more inflationary environment in Europe, which means we just have to be really judicious about how and where we take pricing in that environment. I think, as Ian mentioned, in China, we've seen the business stabilize there. We're encouraged by what we're seeing from our China business. Latin America, I think continues to perform okay. And then, if you go to places like Japan, the business is performing solidly there. So, I think relative to the U.S., the U.S. and the pressure on that lower income consumers, probably the most noteworthy thing, seeing traffic declines of nearly 10% with that low income consumer, I think is the defining feature of what we see in the U.S. relative to rest of world. Ian Borden: Hey, David. It's Ian. I may just add a couple of comments to what the context that Chris has outlaid, and I'll just use our big five IOM markets as a bit of a bellwether because, obviously, it's just building on what Chris laid o”