Writing for RealClearPolitics, economics writer Robert Samuelson proclaims the China bubble has burst. COTTonLINE has been predicting that outcome for a couple of years.
It has always seemed to us China would go the way of Japan. That is, run out of steam as its aging population, endemic crony capitalism and corruption drag the economy to a crawl.
As Samuelson wisely suggests, what remains to be determined is how badly China's stumble will affect the economies of the rest of the world. If the Japanese example is any indicator, the West will do better - recover quicker - than China.
China's complete recovery is in doubt. One could argue Japan never fully recovered from its crash, caused by the same three variables.
