our guest host has been stephen roach. you're our china expert.re out if china is actually executing a soft landing or if this is something worse this time around, what's your take? >> soft landing, becky, i think. the economy is down as you would expect from, but i think the second quarter 7.6% is pretty close to as bad as it will get. that's down about four points from the high a couple years earlier, but a far more benign and gentler descent. they've got a lot of ammo on the policy front that they can use and that they will be using. the president of china indicated further a still lug overnight in that regard. so i would that bet again this economy. >> what about the yuan and how it stacks up against the euro? they have turned things around and pusheded yuan higher as a result. >> i think currency management is one of the their counter-cyclical tools. they were letting the currency and they have been appreciate steadily since july of '05, but during the financial crisis, they kept that in abeyance. they may be doing the same right now. >> okay