The Relationship Between China and the US

In 1990 China's gross national product per capita per person was probably around $200. Now the average is somewhere around $13,000. I hadn't been back since 1990 and we were going public in 2007 when I got a phone call from somebody I didn't know well who he'd hired after three interviews to be our partner in China. Two months after he joined us he called and said that he was on the board of their largest bank and two people wanted to invest $3 billion in the Blackstone IPO. He told me they weren't fired but removed from what they're doing to do something else.