This is John Batchel, speaking with colleague Charles Ortel. He's in Malaysia, in Penang,

about the Chinese stimulus package yet again announced out of Beijing by the CCP.

Charles is straightforward about what China had and what China's lost and the future for China until and if, as he very carefully

explocates. Charles O'Hortel in Malaysia, who has traveled recently to Hong Kong and other parts

of Asia that have long dealt with China, but now see the problems of China pulling it back in contraction.

Charles O'Tell, more of this tonight with my colleague Gordon Chang as co-host.

I think it's a non-starter. The biggest piece or a gigantic slice of China's GDP used to be investment, internal investment,

which principally was in infrastructure and real estate.

And I think they have invested many trillions of dollars by their accounting that is never going to deliver a positive return.

That's a huge drag.

Beyond that, their public sector is

bloated, ineffective, and focused on the wrong priorities. So you would really have to do a lot of

rejection of the current regime to think that you could turn this great nation on a more

productive course. And I just don't see that happening.

I see them continuing to pretend that they've got things under control

and are going in the right direction.

You can't have a consumerist society if people don't have money.