Late last year we heard about the ghost cities in China and in April, Nouriel Roubini talked about a hard landing. Time to move out of any strong positions in China.
The banking industry in China could make the US drop look small. CNBC:
“Now the U.S. is in crisis, they can’t continue absorbing China’s surplus production, so China’s year of rapid export led growth is going to quickly come to an end,” Duncan told CNBC on Friday.
He believes the recent explosion of domestic credit creation has saved the collapse of China’s economy.
