This is CBS. I am the world. I am John Bats with my colleague and friend Gordon Chang at

Gordon G Chang. The Select Committee on the Chinese Communist Party,

we welcome Ann Stephenson Yang, our colleague for many years, remarks to the committee.

I quote from Ann, we face fundamental disjunctions between the U.S. and Chinese systems, countries

expect one another to follow norms, giving true information about the economy, not stealing

intellectual property, not committing human rights abuses. China does none of these things.

Ann, a very good evening to you. I want to concentrate on giving true information about the economy.

Did you find the committee conversant with that fact that we don't trust the numbers

having for years? Good evening to you Ann.

John, sure the committee knows a fair amount about China. I think that they have perhaps excessive

suspicions about Chinese political organization and motivations. I think that the Chinese economic

statistics are driven by political targets and it's not that anybody's sitting there changing

stuff saying, oh, we've got to make things look good. It's driven by political targets.

Gordon, you have a question for Ann. We've seen indications that growth is coming down.

Is that by design or is that just an erosion of the economy because of the system?

I believe that there's been structural problems in China over the last almost 30 years

and that these are the fruits of the structural decline. I think probably the Chinese economy

is performing worse than the statistics indicate. Let us go to what we understand about the Chinese

comedy, Chinese Communist Party right now. We've talked about Evergrande for more than a year.

There's this new player on the field of disaster. I believe it's called Country Garden and I've

been reading headlines saying this is worse than Evergrande. Is it Ann or are we now into the realm

of exaggerating to get people to read the article? Well, in a narrow sense, it's worse in that the

...