China’s Coming Meltdown

David Stockman, an early budget director in the Reagan administration, offers a plausible rundown of China’s impending economic collapse. The real-estate bubble in China could be multiples larger than one the Federal Reserve has obstinately backed for the past decade-plus. The economy in China is pronounced with political privileges blessed by neo-liberal interventionists. When the crash occurs, there’s going to be strong reaction and some misplaced blame. Rather than seeing their problems stemming particularly from political manipulation of their economic affairs, people in China would be in serious peril of losing what gains they have made for their personal autonomy and well-being if they look to the central government for greater controls.

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