As we watch for the next shoe to drop in the form of a serious, national financial crisis while our leaders flee Europe’s great global warming freeze — ah, how nature mocks us — eyes spin from Greece to the entire basket of the subprime nations of Europe.
But perhaps we are missing the one great fall that may be at hand — China.
Last Friday the Chinese stock and property markets took a terrible hammering and as the week begins, they face floors that, if fathomed, will endanger the entire miracle and the last bastion of capitalism. Communist China.
China’s economy: swan or swansong? – Crikey
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