for the chinese economy, and how moody's has seen it. china is not happy. the finance ministry has put out a statement. let's get the analysis from the bbc before the economic editor. moody 's still has an a—i credit rating on china, that its fifth highest. it hasn't die grey lid tojunk its fifth highest. it hasn't die grey lid to junk or below investment grade. —— hasn't downgraded it. moody's is putting an ample warning light over things we know for a long time. it has a huge amount of date on its state owned enterprises, it's nationalised industry. it has a lot of debt on its authority. but it is a country with huge reserves, $3 trillion of reserves. its current surplus is $200 billion a year. this is not a country running out of money. but economic reform, how quick will that be? how worried is the president about closing down inefficient industries but creating an employer and? does it create political tension? there are some trends that are in conflict in china. of course, china, the world was biggest population, if it suddenly sees that economic growth tightening, that