i am pleased to have peter kiernan at this table. welcome. >> so happy to be here. >> rose: this grew out of a conversation you had with a young businessman in china? >> it did. i was walking in shanghai and finished a book on something i did in china. we became good friends and he said i studied america thoroughly and i think i get you, but there is one thing that baffles me. we are trying so hard to create a middle class, it's so difficult to do and you have one of the great middle classes ever created in history and you're systematically dismantling that. just share with me, what's the strategy behind that? why are you doing that? and i fumbled through what was a terrible answer at the time. the whole fight back i was thinking, why are we doing that? that doesn't make sense. that was why one book led to the other and that's what led to the birth to have the book. >> rose: what's the answer to the question? >> that we have to look at the middle class differently. it's a totally different construct than what we once experienced. any

thank you peter kiernan. kiernan: thank you. see you next time. ♪ ♪ angie: chinese stocks fall again in new york as it flows at home. baidu is a big loser -- down the most in seven years. twitter sales the estimates but shares fall as outlooks look low. oil climbs from four-month low but is facing a global glut. welcome to first upcoming live from bluebirds asian headquarters. -- bloombergs asian headquarters.

thank you, peter kiernan. kiernan: thank you.ee you next time. ♪ rishaad: it is wednesday, and this is "trending business". ♪ in sydney, singapore mumbai renewed optimism across asia with the regional benchmarks wrapping up a five-day losing streak. china's economy is on the up. a gloomy forecast in some industrial areas. order slowing rapidly, especially in china. a mixed message from twitter yesterday. executives say that growth will improve soon. they say it is unacceptable, and he is not happy. you can follow me on twitter there is my handle. you can use that #as well. let's find a what equity positions are up. china's up by 4.3%. juliet? juliette: the sentiment in asia is a positive one today. markets rise for the first time in six sessions. it kicked up his today policy meeting. it has been a volatile day in china. we did see china rise slightly. a