Schwarzman says that not to understand what is going on in China is a huge mistake. China is "core curriculum" for investors.
Power and wealth are being steadily moved to Asia. Schwarzman thinks that at some point there is going to be an inflection point where the western world is going to get upset with China which is gaining power and wealth at the expense of the West.
As far as doing business in China, Schwarzman says it is very different. It is much more complex because the government touches almost everything and rules for doing business are less well-defined.
The video below has Schwarzman spending half an hour discussing his view on China:
