UTX and The Global Demographic Tailwind (from 4Q11 CC): http://seekingalpha.com/article/322068-united-technologies-management-discusses-q4-2011-results-earnings-call-transcript Q: Terry Darling (Goldman Sachs): Can you update us on your thinking on China as well, with regards to the social housing dynamic over the next 12 months or so? A: Greg Hayes (CFO): …we think…we'll see mid-single-digit growth at Otis this year, driven by social housing…. the move [is] from the Eastern Seaboard to the West of the country. I think social housing last year was about 5 million units. The government came out recently and revised the projection from 10 million down to 7 million units this year, but still pretty strong growth. And again, we don't really have a big concern about China slowing down dramatically this year. I think, again, the fourth quarter was probably to be expected, given what the government was doing to try and rein in the property speculation in China. But 7% growth is still pretty good and for the year, 20% growth in Otis in new equipment in China. So I don't think that story really changes fundamentally. See #msg-70416781 and the links embedded in #msg-71084341 for related stories.