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Increasingly, the Chinese will own a lot more of the world because they will be converting their dollar reserves and U.S. government bonds into real assets.

As I talk with the Chinese on currency, I encourage them to move much more quickly with opening up their capital markets to competition, because I don't believe the world is going to give them as much time as they would like.

China is one of those vast, continental conglomerates that... I mean, if they were to start a tourist trade in China, they'd just bus people in from another province, you know what I mean? They're very self-contained.

A stronger yuan could lead to greater Chinese asset accumulation in the U.S. and elsewhere.

The Chinese are saving like mad, but they are not getting a very good return on their savings.

If the Chinese economy can be opened so that currencies are convertible, Chinese tourists can take money and go see the world. Chinese businessmen can go and buy property in the U.S. and France and every place. All of a sudden, it's just going to be a blossoming global economy. I think it's going to be good for everybody.

In a couple of years, the Chinese will be seen as regular participants in international industry. Their companies have to report to shareholders as well as to the Chinese authorities. They need to make money, they have to be efficient.

The China Rich seem to be spending on a scale that's just beyond anything we've ever seen before. They are building and buying an insane amount of luxury residences around the world, commissioning huge flying palaces from Boeing, and paying ridiculous amounts for art.

I wanted to explore what all this new-found wealth means for the different generations of Chinese who have to live together in this place that is transforming at warp speed into the richest country on the planet.

China needs a currency that reflects underlying economic fundamentals.