This downturn in China could conceivably be a start of a major depression in that country.
I don’t expect this to be the case, but it is a remote possibility.
Does this mean the way the Chinese have been managing their economic growth has been a disaster?
Let’s not start calling “failure” so soon. A lot of the criticism I see of China is hypocritical. The US economy went through incredible gyrations during the “American Century,” including our Great Depression. ...More →