This is

CBSI in the world. I'm John Doctor with Gordon Chang at Gordon G Chang, my colleague and co-host and friend.

And we go to a report from

see NBC J.P. Morgan is quote positive on China stocks

and quote constructive on real estate

as Beijing props up markets. We welcome Fraser Howie, the co-author of red

capitalism to help us understand Morgan's bullish call on an economy otherwise profoundly troubled with a real estate bubble

collapse, with the consumers hiding their gold under their mattresses, and with the recent embassy of Shijin Ping to Europe now very clearly understanding

that foreign investment is not returning until and if.

And J.P. Morgan makes a bullish call. Contrary,

Fraser, a very good day to you. J.P. Morgan's the largest bank in the

solar system and this call would support getting back into the Chinese market.

Has something happened? Good evening to you, Fraser.

Hello, John, I'm Hello Garden.

Well, I think, well, we're talking about J.P. Morgan, let's not forget that Jamie Diamond just last week or so talked about the difficulties of doing business in China and how some businesses for their investment banking business there, I think you described as

falling off a cliff. So things are not all plain sailing for JP Morgan when it

comes to China. I think when their analysts are talking or being bullish in the short term or

for in the property in stock markets these are very short term types of

issues you talked about you use that word profound there and China really does

have some very profound problems in both the stock market and the property market.

J.P. Morgan's right. The stock market is relatively cheap, it's been weak compared to its peers.

Lots of farm money has left it.

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