I have been saying for some time that the Chinese economy is a basket case. With a highly insecure political system to boot, it is only a matter of time before it crashes and burns. And now, it seems, I have company.
Mind you, I would say the same of India. I do not believe the hype about that country. It will be dragged down by its innate inefficiencies and most particularly by the corruption of its ruling elites.
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