dan wang is a chief economist at hang thing bank in china. she says that the transition of china's economic model has compounded the impact of cova 19 restrictions. right now what we see is that different cities are not on the same trajectory in their recovery. china has many density, pothole populated cities and in terms of production and consumption, the city services have already been quite depressed. and now people are even more scared about spending. we have seen layoffs starting to take place in many of the major cities, including beijing in shanghai, and across many different industries, including finance and a real estate. and a faster solution continues, then we'll see much delayed response investment, especially from the private sector. it's safe to say now, the double digit growth era for china has been over. and it's not just because of coven, but also because a transition of china is growth engine used to be able to just build its way out by spending a lot of seeing infrastructure and housing. but we have seen that infrastructure

according to wedbush analyst dan ives who says the sector has the potential to grow 20% thanks to upcoming mergers and cost-cutting measures being taken. constellation research ray wang right now. ray, i've seen opinions on the other side stay away from tech stocks this year. which is it? >> edward, tech stocks will always do much better than other areas in terms after sector. they're growing at a 20 to 30% rate in terms of earnings. what they're dependent is stable and declining interest rates. i think we're starting to see the light at the end of the tunnel pass to the fed's decision. you're also starting to see that focus on profitability instead of growth. so the era of easy money is over. so it is important to look at that. especially i want to look at big tech stocks where they had huge cuts. you seen huge cuts in valuation and of course in price. those stocks, microsoft, apple, tesla, alphabet, nvidia, amazon are paul areas where you actually see opportunity he specially in the big cap ones and long term investors have an opportunity, that is a unique buying opportunity if you're a long term investor to get in while the price is good. edward: how about some of