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>> rose: welcome to the broadcast. following up on our interview last night with lee kwan wu of singapore. tonight steven roach a former chief economist with morgan stanley who is still with the company but spends most of his time in china. >> the 60th anniversary of the people's republic of china. but the first 30 years were pretty awful and the next 30 years have been spectacular. the difference is they have really put a huge focus on transitioning this economy from one that was owned by the state to that is more of a market-based economy. they've taken huge risks in terms of refor...

rose: welcome to the broadcast. foowing up on our interview la night with lee kwa wu of ngapore. tonight stevenoach a rmer chief economist with moan stanley who is stillith the company but spends most of his time inhina. >> the 60t anniversarof the pele's republic of china. bu the first 30 years were pretty awful and t next 30 yes have been spectacular. thdifference is they have really put a huge focus on transitioning this economyrom one at was owned by the stat to tt is more of market-based economy. they've tan huge risk in terms of reforms, layoffs, building mart structus, buding ...

>> rose: welcome to the broadcast. following up on our interview last night with lee kwan wu of singapore. tonight steven roach a former chief economist with morgan stanley who is still with the company but spends most of his time in china. >> the 60th anniversary of the people's republic of china. but the first 30 years were pretty awful and the next 30 years have been spectacular. the difference is they have really put a huge focus on transitioning this economy from one that was owned by the state to that is more of a market-based economy. they've taken huge risks in terms of ...

>>ose: welcome to the broadcast. folling up on our interview lastight with lee kwanu of siapore. tonight steven rch a foer chief ecomist with morg stanley who is still wh the company but spends most of his time in cna. >> the 60th anniversary the peop's republic of china. but the first 30 years were pretty awful and the next 30 yearhave been spectacular. the fference is they have really put a huge focus on transitioning this economy fm one th was owned by the state to thais more of a market-based economy. they've take huge risks in terms of reforms, layoffs building marke structure, ...