HARDtalk - Liu Mingkang, China's chief banking regulator

Stephen Sackur talks to Liu Mingkang, Chairman of the China Banking Regulatory Commission. China's economy is undergoing a huge transformation and at the core of the changes is a profound overhaul of the country's financial system. Foreign banks are being allowed to enter the Chinese retail market, there is a booming consumer credit industry and the government is slowly relinquishing control. But there are also concerns about a massive trade surplus and the power being wielded by China's sovereign wealth funds. Liu Mingkang is a former governor of the People's Bank of China and is now China's chief banking regulator. Why does he say that globalisation is a double-edged sword for China?