This is CBS Eye on the World. Here's John Batchelor.

We're welcoming my good friend and colleague Gordon Chang at Gordon G. Chang.

Looking at China and the stimulus program announced one more time by the central government.

You will recall these stimulus programs have been routine ever since the gigantic stimulus program

back in 2008, 2009, during the Great Recession.

These days, however, the programs have to address what everyone can see, even if the

numbers are not transparent, which is the Chinese economy is troubled. We welcome Andrew Collier,

who is a principal at Orient Capital and also a man who we depend upon to interpret these non-transparent

stimulus packages. Andrew, what I've learned is some of this direction for new investment is at

the consumer class, often complain is that consumers don't shop enough but there's more to it

than that how do you measure the most recent example was it big enough was it too big good

evening to you Andrew good evening no john it's it's never too big because the uh chinese government

does not want to throw good money after bad

their property market has been driving the economy for the last 20 years and the property market

has collapsed over the last three years and the government is just trying to put enough money out

there i think the last figure was $1.6 trillion dollars,

which seems like a lot, but the Chinese economy is much larger. Just to get people back into

spending and back into buying property, unfortunately, most Chinese are fairly pessimistic

about the future of the economy. In fact, I talked to a Chinese person by Zoom yesterday in Beijing

who told me that the Chinese are actually more negative about the future of their economy,

even Americans who were quite negative about the future of the Chinese economy.

So Xi Jinping, the leader of the country, is doubling down on investment in production

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