This is John Bachelor, conversation with my colleague Chris Regal, the CEO of scholar.com,

business on all the major continents.

That the Chinese numbers, the official numbers export import not reliable certainly not from

any number from the government we're looking at a China's declining manufacturing base, declining consumer base,

declining, well, crashing housing base.

And Chris looks very carefully and says the recession is two-plus years underway in China,

perhaps globally as well, but certainly China.

And no remedy inside. Here's Chris Regal on the official numbers and pay no mind.

More of this tonight.

So, John, I would say very precisely to pay no attention to the numbers reported by the Chinese government itself.

In most cases that's a form of projection or disinformation.

If you watch the shippers based on the actual number of embarks,

debarks, the number of containerized units moving,

you see that year over year that continues to fall from China.

So from the government's propaganda at the shipper side they may try to

project strength to stay in favor of the Chinese government, make sure that

their ships are still able to port, but it's very clear across multiple

economic indicators that not only his manufacturing slowed but you see energy consumption in China slowing

while materials importing into China slowing so it's just part and parcel with the larger global

recession that's been underway now for two plus years.