This is John Batcher, conversation with Anne Stevenson Yang, author of Wild Ride,

Anne's story of arriving in China in the 1990s and seeing the burst of energy that

created the miracle, except the miracle had a secret.

It was built on a bubble, a real estate bubble that collapsed within these last years.

And now the way out is to lift the burden of the Chinese

Communist Party however here and addresses what about the hope the ambition the

dream by Shijin Ping and his counselors that the high end, artificial

intelligence, quantum computing, electric vehicles, the green technology of the future, that that will lift China's

economy back up from the rut that it's in. It's declining very quickly. Anne speaks to that

bluntly about China's ability to do high end.

And Stephen Zignang, my colleague, author of Wild Ride, the Rise and fall and fall of the Chinese miracle of the late 20th century.

More of this tonight. Thank you.

Well, number one, it's not the way out because it's a very small sliver of the economy, but number two, it's simply not true.

I mean, the Chinese economy is very, very good at commoditizing and doing everything on the cheap.

It's not good at building high-end products.

So whatever may be said about electric vehicles, batteries,

semiconductor technology, that's really not the where the Chinese economy is going.