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This is CBS Eye in the World with Gordon Chang at Gordon G. Chang.

I'm John Basteroi.

Welcome and Stevenson Yang to help us understand headlines out of China where there is nothing

much trouble from the metrics that we have.

For example, the PMI, the manufacturing number is dipped under 50 again.

And there's no reason to believe that Evergrande and Country Garden, the big developers, have

found a magic way out of their problems of failure.

However, right now Ann is the author of Wild Ride, China's short-lived experiment in capitalism.

The short-lived part is to be emphasized, and a very good evening to you.

Thank you very much.

The headline at CNBC, why China's one trillion yuan debt plan isn't such a big deal.

As I understand it, Chinese authorities have announced a big change to the national budget.

They're issuing 137 billion in government bonds.

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