for more perspective, let's bring in maranda car, the head of china research at nsbo. i look at the numbers, two-year high on chinese pmi. i was told last year we were going to get used to lower growth. what are people telling me? we are not seeing that in china right now. >> there are three main reasons for a big slowdown. thinking there was a massive slowdown and this was the beginning of the end. property, credit markets and the anticorruption campaign, all of those three, particularly with the investigation on wednesday, particularly those three have been removed. we are getting back to more normalized growth rates. >> let's talk about the anticorruption campaign. one facet of that has been bending on luxury items like high-end drinks. you see some of the drink companies, sales across the board in china are terrible. how does this impact the wider economy? >> one is the luxury goods people not spending on enjoying themselves. in terms of the other impact, you have the political impact, which is changing guard at the top and removing some political opponents. that i

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