This is CBS, I'm John Batch with Gordon Chang at Gordon G. Chang, my colleague in

calls. Gordon wants about a time. The Chinese miracle, and I can recall Wall Street

discovering this year after year, saying China is the future. You need to put your

money into China as well as the European markets and the emerging markets. What

happened, Gordon? Because I no longer hear that. But then again, I don't listen to the deep

insiders, just the bubblers at the top. Are the deep insiders still saying China, China, China?

I think the deep insiders would like to say China, China, China. And Jamie Diamond and Elon Musk

were just in China. But the problem is that it is now apparent to even Wall Street that the

structural problems inside China have overtaken things. And that Xi Jinping's drive to push the

foreigners out has really made it very clear that there is a structural and political problems

in China which can't be solved under Xi Jinping. We welcome Charles Ortella, our colleague of

on the money with Charles Ortella to comment on a Reuters story in these last days.

Foreign investors selling of Chinese shares gained some momentum in May as flagging domestic

demand and expectations for weak corporate earnings led to steep falls on mainland and Hong Kong

stock markets. Charles, I've learned to say that when the stock market in New York gets in trouble

is when everybody tries to get out through the same door. Is that happening in China? Good evening

to you. Good evening to you and to Gordon. I think the China story has really been built on

theory and not really very much on the most important element of investing which is driving

to return on your investment. Everyone always talks about the future and there's all these people

in China and of course it will be built out and of course labor was cheaper there. But I challenge

the China bulls to demonstrate with specificity how investors can regularly get dividends and

principal out when they want to get it out. And I think the realization that you can't do that

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