There’s quite a bit of chatter about the economic problems in China. First a stock market crash, then the clear panic of the authorities over the crash followed by measures of mixed efficacy in propping the stock market up, and finally substantial damage to a major port as a result of an explosion. Keep in mind an attitude common in China: if something happens it’s either because the government made it happen or allowed it to happen.
My take: if we’re hearing about it, a serious economic downturn has already taken place in China. I always discount the official Chinese reports of economic growth by a percentage point or two.
