Friday, 19 July 2013

Paul Krugman turns to look at China and doesn't like what he sees

Hitting China’s Wall - NYTimes.com:
... the signs are now unmistakable: China is in big trouble. We’re not talking about some minor setback along the way, but something more fundamental. The country’s whole way of doing business, the economic system that has driven three decades of incredible growth, has reached its limits. You could say that the Chinese model is about to hit its Great Wall, and the only question now is just how bad the crash will be.

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