Wednesday   15 July 2015  / Hour 1, Block A:Fraser Howie, co-author of Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise, in re:  Q2 numbers and the stock markets. GDP growth of 7%  ot possible. The Party isn't interested in the truth; it's interested in soothing and maintaining control Absent meaningful decisions, can't make good policy decisions.   Heavy govt buying in the stock mkt, prohibition on selling, ergo, collapse of confidence in the govt and the got panicked. It was a small matter but the govt insisted on supporting the index at an irrational level.  No one will buy stuff if you don't think you can sell it; infringement of property rights, If you haven't awakened to the fact that China is in a severe slowdown, you haven't been paying attn. PBOC said that China's forex reserves dropped by $40 Bil. Significant.