This is a CBSI on the world. I'm John Bachelor. The Chinese economy, the Chinese

stock market, investor class. Gordon Chang, at Gordon G Chang, my my colleague and co-host, and we're very

pleased to welcome our watchman on the Chinese economy, Andrew Collier,

managing director of Orient Capital Research, Author of a new book,

China's Technology War, why Beijing took down its tech giants.

More than that these days, and drew a very good day to you.

If I see the headlines out of China correctly, there's the

D word suddenly showing up which is the bane of all economies struggling to recover

from bad acts.

China's deflationary pressures build in September.

Consumer inflation cools.

Deflation is a curse, Andrew. Is China alarmed?

Good evening to you.

Yes, good evening.

As our colleague Gordon Chang just mentioned,

the leadership is panicking.

Deflation is always bad because if you think prices are going to be lower in the future,

you're not going to spend money.

And deflation also means that there's not that much demand on the economy so prices are going down.

So this is a signal of the difficulties that the government's in and they could very well

be panicking.

And if I remember correctly,

...