I have read articles and watched programs that declared China was headed for disaster. However, to look at the news, one would conclude that China is on the brink of being the lead economy of the world and likely to replace the US as the top superpower. I follow the space industry fairly closely and China is proving to be more energetic than NASA or the ESA. If not for SpaceX, there is no question that China would be winning the current space race. Are rumors of impeding doom just wishful thinking from envious competitors or is there something to it? Here's an interesting take:
This does sound grim. Has China trod the same path that Japan took 30 years ago? Will their housing bubble be more destructive than ours from 2008? As China has tended more and more toward a totalitarian state in recent years (e.g. Uigur concentration camps, Hong Kong takeover), I would not be unhappy for it to crumble. Unfortunately, China will take the world down too, much as the USA did in 2008.
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