This is the France-Vistory Debating Society.

I'm John Vatsy with Professor H.J.

McHenry and International Relations to Beijing.

Not much in the news except Lee Kachang, former premier,

former number two, economy number one,

is dead of what we're told is heart failure in Beijing.

The trouble here is that what could have been 12 years ago,

which was Lee Kachang to be the General Secretary

and President, turned in Xi Jinping.

A radically profoundly miseducated young man

who suffered the vicissitudes of the red guard at 14

and profoundly resents authority.

So he turned into it, of course.

Not to do psychology, just to enjoy this as a stage play

because the bully with the bad education

became the General Secretary

and the man who was sophisticated

about the economy Lee Kachang is gone.

So Beijing's point of view,

the property market continues to collapse.

The stock market is unreliable.

At the same time, what we have is Hong Kong emptying

...