Stephen Schwarzman on China reversing harmful policies of past 2 to 3 years

What you're seeing, which some of us expected, is after the Party Congress in October, China has reversed most of the policies that it put in over the previous two to three years which were really slowing their economy and creating a variety of other issues.  The Chinese are infinitely practical.  This wasn't working out well and so they're changing it.

~ Stephen Schwarzman, Blackstone CEO, CNBC interview in Davos, 1:00 mark, January 17, 2023