jiang jianqing, chairman of the board of the industrial & commercial bank of china.hristine lagarde, the managing director at the imf. fang xinghai, vice chairman of china's securities regulatory commission and director general at the intercontinental economic department. gary cohn, president at goldman sachs. zhang xin, chief executive officer and co-founder at soho china. and ray dalio, chairman and chief executive officer at -- chief investment officer at bridgewater associates. thank you so much for joining us. ray dalio, is there something that the west misunderstands about chinese markets? and does that exacerbate the volatility we have seen the last few weeks? mr. dalio: i think there is a lot the west does not understand about chinese markets. i think the essence of what's going on in china is an adjustment. they have four major challenges. they have a debt restructuring challenge. they have an economic restructuring challenge, so they have to come up with a new model for the economy. they have a capital markets challenge. to build in an efficient way that ci

jiang jianqing, chairman of the board of the industrial & commercial bank of china. christine lagarde, the managing director at the imf. fang xinghai, vice chairman of china's securities regulatory commission and director general at the intercontinental economic department. president at goldman sachs. zhang xin, chief executive officer and co-founder at soho china. and ray dalio, chairman and chief executive officer at bridgewater associates. thank you so much for joining us. ray dalio, is there something that the west misunderstands about chinese markets? and does that exacerbate the volatility we have seen the last few weeks? dalio: i think there is a lot the west does not understand about chinese markets. i think the essence of what's going on in china is an adjustment. they have four major challenges. they have a debt restructuring challenge. they have an economic restructuring challenge, so they have to come up with a new model for the economy. they have a capital markets challenge. to build in an efficient way that circulates capital through the system better.