We're going to see more of this; my sense is it's being under-reported. Gordon Chang's 2001 The Coming Collapse of China seemed a little hard to believe when I read it some months ago; even with all the bad loans China's state-supported institutions have, they still have cash - but it's the wider class divisions in China and the irony that a Communist people's government its doing its best to oppress the working classes. Doesn't it always work out this way?
It's a given today that if it affects China, it affects you, and the future history of the world will look back on the twenty-first century and ask why the people of China and the U.S. made the decisions we did.
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