This is CBS I on the world with John Bachelor.

Here's John Bachelor.

I welcome Gordon Chang, my colleague and co-host and friend at Gordon G Chang.

And we turn to the Chinese economy.

There is a headline in C.N.C NBC that is surprising.

U.S. China signed agreement to cooperate on financial

stability.

There's irony in this and we welcome Jonathan Ward

of the Hudson Institute, most recently the author of the book Decisive Decade, about the strained relationship between Washington and Beijing here to four. Jonathan a very good day to you. I come to

this promising headline that US and China are agreeing on anything but to cooperate on financial stability seems, well the proverb is a bridge

too far.

I read a summary from Bloomberg.

The latest economic data aren't looking good for China.

Factory activity contracted for a four straight month.

Home sales data showed that a slump in residential properties continues.

Manufacturing is showing weakness. continues. says Bloomberg, present a tough hurdle for investors betting on a sustainable recovery for equities.

Now that all sounds like there is some plan in place to recover from these holes in the ground.

Jonathan, do you see a plan that is working in some fashion other than this idea that there's been an agreement sign between the US and China.

Good day to you, Jonathan.

Good day, John. Good day, Gordon.

Well, look, I think what we have here is, in my my mind a very misguided attempt to do confidence building

measures with Beijing.

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