China’s Ponzi Bicycle Is Running Into A Brick Wall

choi

Paul Krugman, Hitting China’s Wall; A very troubled transition to maturity. New York Times, July 19, 2013 (column; online title: China’s Ponzi Bicycle Is Running Into A Brick Wall)
http://krugman.blogs.nytimes.com ... -into-a-brick-wall/

My comment:
(a) It is almost 4 pm, and 纽约时报中文网 has not translated it. However, this column is not difficult to read. Though basically it says nothing new, but still the column is important, as it comes from Krugman, who publishes a textbook on international trade.
(b) I simply do not buy doom and gloom projection for China. China excels at assembling things. It is not glamorous, but nonetheless brings home the bacon, which is what counts most. After all, money is money.
(c) Minsky moment
en.wikipedia.org/wiki/Minsky_moment

choi

克鲁格曼, 中国模式遇上了大麻烦. 纽约时报中文网, July 20, 2013.
http://cn.nytimes.com/opinion/20130720/c20krugman/