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This is CBSI and the World. I'm John Batchel with my good friend Gordon Chang at Gordon G. Chang.

And we turn to our colleague, Ann Stevenson Yang,

the author most recently of Wild Ride, a short history of the opening and closing of the

Chinese economy. Gordon, you have a question for Anne. And we're hearing a lot of stories about how

China's people are not feeling the prosperity that is suggested by their headline Q2 growth numbers.

Beijing reported 5.2% GDP growth in the second quarter year on year, but China's people are not feeling the glow. What can you tell us about

this? Well, I think it's a misunderstanding of what GDP actually represents Gordon in all

countries, but especially in China. So in China, GDP is not an analysis of existing economic situation, but instead a political target.

So it is, China will achieve 5% whether or not people feel good about it and experience growth.

And the way they do that is by toggling investment, which is one of the three key portions of GDP,

investment, net trade, and consumption.

So they're not directly in control of the other things, but they're directly in control of investment

...