China will have its first large-scale rumbling of civil unrest as a consequence of collapsing export demand and thus employment. They'll manage to tamp it down (for the most part), this year. Don't take a bet on that holding together longer-term: they have a horrifying debt-financed overcapacity problem and there is no easy way for them to get out of it. The worst of it will be a year or two in the future.
Saturday, February 21, 2009
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment