China is overbuilt, over leveraged, and over managed.
This is a great example of why the government should never manage the economy. The more government manages, the more it will mess things up. Over time this is nearly always true. It is absolutely true in China.
China’s Trust Bombs Exploding (That’s Shadow Banking Trusts)
How can America compete with China’s subsidized industries in the 21st Century? Surely we will be left behind and the Red Dragon will come back to swallow us into its state-capitalism fed belly.
“Xi Jinpeng, the man likely to take over this year as China’s new leader, said the carefully calibrated slowdown was on track. ‘There will be no so-called hard landing,’ he said on a trip to the US.”