This is CBS, I on the world. I'm John Bachelor.

welcoming Gordon Chang at Gordon G. Chang.

We have very big news.

Beijing Reuters.

Fitch cut its outlook on China's sovereign credit rating to negative.

Citing risks to public finances as the economy faces increasing uncertainty in its shift to new growth

models. The outlook downgrade follows a similar mood by Moody's in December and comes to Beijing ratchets up efforts to spur feeble post-Covid

recovery in the world's second largest economy.

Gordon, a very good day to you. Fitch, conventional wisdom. China's in

trouble. Can we say Gordon is now confirmed? Good evening to you good evening John and yes it is confirmed

because fish has been slow to the party clearly the debt situation in China is

severe one could even say critical, Beijing has no plan for it, and we can all see what's happening.

We welcome Jonathan Moore, author of the decisive decade, we're in it, also a senior fellow at the

Hudson Institute writing most recently for Fox, his measure of the

Chinese economy.

As seen through the eyes of the bulls attending a

gathering in Beijing called by Shijin ping the CEOs of America led by Tim Cook

what is to be done. Jonathan a very good evening to you. A long trip to Beijing by Tim Cook and his colleagues.

For what purpose? Good evening to you Jonathan good evening

John good evening Gordon so right we can see a whole bunch of forces coming into

play here I mean the CEOs are continuing to go to China they They just attended a couple weeks ago the

China Development Forum and many of those that were in attendance still

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