jiechi: we let supply and demand determine the value of the remnibi. i think generally speaking it is quite steady in value. and we will, of course, continue to do reform in china. in various sectors, including the financial sector. and when people look back 10 years or 15 years from now, we see that the market reform is really good. not only for china, but for the rest of the world. , 12 months from now, will the rmb be lower in value? mr. jiechi: it is normal for the currency to move either way. but it is a reliable currency, and more and more people actually do their trades in rmb. and i am sure it will continue to play a healthy role not only in the chinese community but in the international trade and investment and so on and so forth. betty: were you surprised by how the markets reacted to the devaluation of the renminbi? mr. jiechi: let me say this. every country has its challenges and their problems, and every country should do a better job of their own economy. [laughter] betty: they should mind their own business, right? mr. jiechi: i do not m

yang: we let supply and demand determine the value of the remnibi. think generally speaking it is quite steady in value. and we will, of course, continue to do reform in china. in various sectors, including the financial sector. and when people look back 10 years or 15 years from now, they will see that the market reform is really good, not only for china, but for the rest of the world. betty: let's see, 12 months from now, will the currency be lower in value? mr. yang: it is normal for the currency to move either way. but it is a reliable currency, and more and more people actually do their trades in renminbi. and i am sure it will continue to play a healthy role not only in the chinese economy, but in the international trade and investment and so on and so forth. betty: were you surprised by how the markets reacted to the devaluation of the renminbi? mr. yang: let me say this. every country has its challenges and problems, and every country should do a better job of their own economy. betty: they should mind their own business, right? mr. yang: i d

this can intervene in or stock market all they want because they can print rim the be -- remnibi.lars of the only thing they can really use to defend their currency. that means they are in trouble. alix: it's so great to put the data point to both of you guys and you agree with the data point, just have different interpretations of it. it's fascinating. thanks so much. gordon chang, author of "the coming collapse of china." ♪ joe: like all the economic hipsters are going to be looking at measures of slack, wage growth and the unemployment rate. as long as we're in the 200-ish range, people ignore that. that is it. we will be back tomorrow on "what'd you miss?" ♪ "bloombergme to advantage prime time." you a we are bringing special hour a bloomberg programming credit we will be dividing into a wide-ranging conversation. we will talk about exchanges in trading with ed knight of the nasdaq. then we will look to the current media scape, and we will round it out with technology and companies you should be invested in. we will talk to an all-star analyst. ed knight is the executive vice