China’s Monumental Ponzi: Here’s How It Unravels

China is the greatest construction boom and credit bubble in recorded history. An entire nation of 1.3 billion has gone mad building, borrowing, speculating, scheming, cheating, lying and stealing. The source of this demented outbreak is not a flaw in Chinese culture or character---nor even the kind of raw greed and gluttony that afflicts all peoples in the late stages of a financial bubble.
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