Zhou Xiaochuan, governor of China’s central bank, told a meeting of Group of 20 finance ministers in Ankara that a stock-market bubble in his country had “burst,” according to Japan’s Taro Aso. Another official present at the talks said China had presented the country’s situation as a new normal.This news should be unsurprising to regular COTTonLINE readers. We have written about the likelihood of a Chinese economic meltdown like Japan's since 2010.
Whether the downturn will play out like the endless Japanese doldrums is, of course, unknown. The suspicion is it might. That would be a tough outcome for one-fifth of the world's population.
