The waning dog days of a long hot summer in Washington may have been a factor contributing to the heated and at times volatile language embedded in the U.S.-China Economic Security Review Commission's public hearing held only a few weeks ago on China and its Capital Markets developments.

Policy wonks, journalists, and distinguished economists and consultants like Donald H. Straszheim, CEO of Straszheim Global Advisors appear to value the work of the commission since their body of research arguably examines the overall strategic consequences of China's economic and financial shifts.

"Finance is China's weakest link. There is a solid Consensus view that the financial system is China's weakest link. If destabilizing economic trouble erupts in the next decade, it likely will start in the financial sector," stated Straszheim in his public testimony.

An expert China watcher, Straszheim's testimony describes the state of finance in China as both primitive and weak. Casting a shadow over the recent high profile Chinese IPOs, the senior economist underscores his position by stating that until China's financial structure is modernized, it will remain a country of incomplete development.

In speaking with the office of U.S.-China Economic Security Commission, recommendations remain in the draft stage.