China is NOT the savior of the world...yet

America may have lead the world in ficticious financial "innovation, with many other countries following American's lead. But China doesn't want to be outclassed, to me they are going for the gold on economic malfeasance. China is a world success story,but the standard thinking it will be a growth story is in jeopardy. For example, in 2015 the Chinese demographics will start to shift, driven by China's "one child per couple" policy.

But for now, it looks like China has been doing everything possible to ensure their on-paper economic numbers are met. But reality may be a tad bit different. But this video is a MUST watch if you want to know about the state of China. A great quote "China has built a 5x5 office space for every man, woman, and child in china'. Now if that isn't a sign of overbuilding, I don't know what is.



Also see Mish on Nonperforming Loans in China Rise to "Trillions of Renminbi"