steve rattner, that was sweet of him, mitch mcconnell. sometimes it was nice. >> it was a gift a nice gift. walked right into it. >> joe, what's behind -- was there a point that -- i'm not gong to ask you to say this there's no valid point to what he said. >> i'm not even sure that the secretary would disagree with him. her campaign not solely built around her gender. i think they've taken pains to have this huge platform all these other issues right? it's kind of silly i think. >> it just never works. just don't say those two words, willie, right? nobody wants to touch it. >> i think it's silly on its face, but i also don't think he's saying something that's not out there among people that she's just running to make history. i don't think that's falling on deaf ears. he's connecting with some when he says that. >> also mika i've seen you sitting in that chair a thousand times saying that women are very excited to vote for her because they want a woman to be president. >> that's great. >> you said i go around and there are so many women,

and steve rattner, a chairman of willett advisors and a former coner to the treasury secretary under president obama. from washington, jim fallows he is a national correspondent for the atlantic, and has written extensively about china. i am pleased to have all of them here. jim since you have awe been there in the last two months tell me what is going on and why? >> i think the market as orville and steve know well and as you have discussed on the program, is different from other developed world markets and it isn't really a market it is very thinly invested in by the population at large. it doesn't have any kind of institutional tradition. and so the good side of this when there is a market crash as there is now and there was eight years ago in 2007 we were living there too it doesn't really pull down the rest of the economy the way the 2008 and 9 crash did in the u.s. the bad side is the fundamentals there are not like developed world markets. and so the government has been selling, trying to buy stocks to prop up their value. the question is what that does to the long-term goal o

and steve rattner. martin sorrell and tim armstrong. what is happened is almost listed -- almost the theme of a wall street movie. erik: take a moment and go on bloomberg.com and read this piece by carmen reinhart. stephanie: it is really illustrative. erik: i am doing my best, folks. stephanie: this is so valuable. it is. we will be talking to carmen reinhart about it at 8:45. stephanie: greece has had deadlines before. european leaders gave a greek prime minister alexis tsipras, until midnight tonight. they want more spending cuts before agreeing to a bailout. greece will not get special treatment. >> we remain fully engaged in order to help find the solution that will be most conducive to our mission, to try to help with restoring stability, growth. stephanie: wieters can decide how to respond to the greek proposal. greece has extended capital controls through monday. in china, stocks bounced back after losing more than one third of their value in one month. the best marked shanghai composite index rose 5.8%. steve engle has the stor

. >> steve rattner and several others the general view in the business community feel look the truthe matter is the fundamental problem is greece is massively uncompetitive. it's a highly overregulated economy. if you look at its retirement age, you look at areas like pharmacy, too many regulations, very business unfriendly and a swiss-cheese-like model of taxes. that's what really the germans are asking for more than austerity. >> the one about tax collection, while it's true there are a lot of holes, greece mon the less does manage to collect a lot of taxes. people look at it and say, well they must be -- they can't be collecting any money. they're affecting a higher share of gdp and taxes than the united states is. it's not as if they don't manage to raise revenue. maybe they should do it better. they should. as for the other stuff, greece is an overregulated, problematic economy, not as much as it was. it's done much more reform. >> structural reform not just cutting budgets? >> a lot of structural reform. look at the world bank survey of doing business greece is not a great plac

>> steve rattner, sara alluded to a lot of u.s. dollars on rapid chinese growth in the last decade. talk about that. >> that is the broader issue and a serious issue. the chinese stock market has had a roller coaster ride. the bigger problem is the chinese economy finally seems to be slowing down. less demand for products. it has a significant, put significant downward pressure on commodity prices which in one sense is good but in another sense, signals a general global slowdown. china is as she said the second biggest economy. we need to worry about what's happening there in terms of its real output and consumption. >> sara eisen, thank you very much. >>> up next one man learns the bitter truth about sugar. why you will never shop for food the same way ever again. keep it right here on "morning joe." that's straight ahead. e company understands the life behind it. those who have served our nation. have earned the very best service in return. ♪ usaa. we know what it means to serve. get an auto insurance quote and see why 92% of our

and steve rattner. martin sorrell and tim armstrong.lmost listed -- almost the theme of a wall street movie. erik: take a moment and go on bloomberg.com and read this piece by carmen reinhart. stephanie: it is really illustrative. erik: i am doing my best, folks. stephanie: