Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life.

Well, this week I'm going to be doing something a little different here at Dividend Cafe, and some of you may really like it because you're not going to hear from me a bunch.

We're going to go right now to

my interview with Louis Gov, who is the chief economist, a GovCal Research, been based out of

Hong Kong for the better part of 20 years. He's a French-born economist with deep and multi-generational,

by the way, his father Charles is utterly brilliant economist.

But deep economic study in the European region and Asian region and has himself, I think,

become one of the foremost experts on economic growth cycles and what's taking place right now,

not just in China, but in the

greater Asian territory. And I've learned a great deal from him about particularly the subject

I've been writing about lately regarding China's sovereign debt market and their currency,

contra policies and trends in the United States. And I think you're going to enjoy this

conversation. So let's let me get right into my interview with Louie Gov and we'll take it from

there. So let's let's use this as a sort of breakpoint in our chat to transition from the equity side

to the debt and by implication the currency side.

Your father wrote an absolutely tremendous piece, kind of a two-parter, but the second

part of it, I think, really crystallized a lot of what's

going on right now in China's perception of what the U.S. is doing by nature of running a current

account deficit and having the world's reserve currency, the ability to cheat the system that way,

where the mutual and reciprocal benefits of that have now worn off, where we previously

needed to buy their stuff and they needed to sell us the stuff and we needed them to fund our deficits.

We now find ourselves in a different position where regardless of what one thinks about the

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