If the government can't get the economy moving again, they have a lot of fundamental problems.

I think the Chinese are really amateurs when it comes to running markets.

I think it was seen as a symptom that the Chinese leadership may be really scared about their economy.Why would you want to depend more on exports if you're a country that has a stated policy of relying less on exports and more on consumer spending, domestic spending?

It may be that the U.S. stock market starts to rise if people think it's gone far enough.

If the government can't get the economy moving again, they have a lot of fundamental problems.

China's stock market is not very big. And yet when stock market has a bad day in China, it seems, Europe has a bad day and then we have a bad day.

People have put a lot of faith in the government's ability to get growth going in China. People have this, what I think, illusion that there are six people in China who really have their hand on every button. And what we're learning is, it's a very big economy and they're not that good at it.