China estimate of the day

As much as 60 percent of the country’s gross domestic product relies on construction, he said. Rogoff said in February a debt-fueled bubble in China may trigger a regional recession within a decade.

The entire article deals with China pessimism more generally.

Comments

Recessions are relative phenomena. There seem to be regional recessions in China right now - just that their recession tends to grow faster than our growth.

And a whole decade to sort out the finacial system before the bankers run it on the rocks? These Chinese policy makers live in luxury.

Psht, if we've learned any absolute truth in the last decade it's that nothing can possibly go wrong with China. I'm sure someone will be along shortly to point this out in the MR comment section.

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