Brian Carter

Yeah, well, there are more questions than answers when it comes to China's economy. It's always been thus. When I was a very, very young intelligence officer and my job was to kind of assess what was going on in the Chinese economy, some of our sources in government were better than what the private sector had. Now I'd say it's absolutely the reverse.

Yeah, well, there are more questions than answers when it comes to China's economy. It's always been thus. When I was a very, very young intelligence officer and my job was to kind of assess what was going on in the Chinese economy, some of our sources in government were better than what the private sector had. Now I'd say it's absolutely the reverse.

The private sector has a better view into what's happening inside of China in terms of data. But that's still very, very incomplete. When it comes to their statistics, I think we fall back on the truism. They lie, but we still can sort of see trends. Their property sector has been weak for some time. Their people have significant restrictions on moving capital out of their country.

The private sector has a better view into what's happening inside of China in terms of data. But that's still very, very incomplete. When it comes to their statistics, I think we fall back on the truism. They lie, but we still can sort of see trends. Their property sector has been weak for some time. Their people have significant restrictions on moving capital out of their country.

The private sector has a better view into what's happening inside of China in terms of data. But that's still very, very incomplete. When it comes to their statistics, I think we fall back on the truism. They lie, but we still can sort of see trends. Their property sector has been weak for some time. Their people have significant restrictions on moving capital out of their country.

They have significant lack of trust in the viability of their banks. And so they put a lot of their life savings into real estate.

They have significant lack of trust in the viability of their banks. And so they put a lot of their life savings into real estate.

They have significant lack of trust in the viability of their banks. And so they put a lot of their life savings into real estate.

And so when people see pictures of real estate high rises crumbling or largely vacant, that's the hopes and dreams of a generation of Chinese workers who haven't been living a lavish lifestyle, but we're trying to save for retirement or their children's better life, etc. They have some really bad fundamentals inside, but they're at scale very big.

And so when people see pictures of real estate high rises crumbling or largely vacant, that's the hopes and dreams of a generation of Chinese workers who haven't been living a lavish lifestyle, but we're trying to save for retirement or their children's better life, etc. They have some really bad fundamentals inside, but they're at scale very big.

And so when people see pictures of real estate high rises crumbling or largely vacant, that's the hopes and dreams of a generation of Chinese workers who haven't been living a lavish lifestyle, but we're trying to save for retirement or their children's better life, etc. They have some really bad fundamentals inside, but they're at scale very big.

And these authoritarian totalitarian regimes like North Korea and in some ways we'd rather not admit China, they can stick around a lot longer than we would expect. And in some ways, that's more troubling to me. I see a weak and at risk China as maybe even more likely to risk conflict. than one that is on the gravy train rocketing up in performance.

And these authoritarian totalitarian regimes like North Korea and in some ways we'd rather not admit China, they can stick around a lot longer than we would expect. And in some ways, that's more troubling to me. I see a weak and at risk China as maybe even more likely to risk conflict. than one that is on the gravy train rocketing up in performance.

And these authoritarian totalitarian regimes like North Korea and in some ways we'd rather not admit China, they can stick around a lot longer than we would expect. And in some ways, that's more troubling to me. I see a weak and at risk China as maybe even more likely to risk conflict. than one that is on the gravy train rocketing up in performance.

And so I think in an odd way, that's why we're seeing some of what we are with picking fights they didn't need to around their periphery.

And so I think in an odd way, that's why we're seeing some of what we are with picking fights they didn't need to around their periphery.

And so I think in an odd way, that's why we're seeing some of what we are with picking fights they didn't need to around their periphery.

Absolutely. I mean, he basically has said that he doesn't believe in the reform and opening policies of Deng Xiaoping. He wants the ideology of socialism and the ideological struggle to be first priority because he wants control as the way toward stability. He doesn't see openness and growth as a way toward stability. And I think that is really in conflict with what

Absolutely. I mean, he basically has said that he doesn't believe in the reform and opening policies of Deng Xiaoping. He wants the ideology of socialism and the ideological struggle to be first priority because he wants control as the way toward stability. He doesn't see openness and growth as a way toward stability. And I think that is really in conflict with what

Absolutely. I mean, he basically has said that he doesn't believe in the reform and opening policies of Deng Xiaoping. He wants the ideology of socialism and the ideological struggle to be first priority because he wants control as the way toward stability. He doesn't see openness and growth as a way toward stability. And I think that is really in conflict with what