Roger Marshall: “the Chinese economy at the moment is not very diverse. It's actually fairly fragile. It's quite large, but it's way too…”

“the Chinese economy at the moment is not very diverse. It's actually fairly fragile. It's quite large, but it's way too dependent upon manufacturing and the consumption of others, not its own consumers, but consumers throughout the world. If there's a downturn elsewhere in the world, it dramatically impacts the Chinese economy. And it is not in the interest of the globe, frankly, to have an economy that's as large as China's and as fragile as China's. So from our own economic perspective, it's good to cause the Chinese market to diversify. In addition, as it stands now in China, there is a very thin middle class. The availability of American financial products can help expand the size of that middle class. And it is middle classes that head governments in good directions, that insist that governments be responsible and responsive to the people, that head governments more toward being democratic governments.”