I have a new column up at the PJM home page, looking at that IMF report that China will surpass the US economy as soon as 2016. What’s their secret, and did we forget ours?
I am fairly pessimistic about our long term outlook, but, when I read about China’s high speed rail fail and ,” …Seems his ministry has run up $271 billion in debt — roughly five times the level that bankrupted General Motors.”, I am hesitant to buy all the predictions about China’s forthcoming world domination. They are an extremely opaque society with some severe internal shortcomings. My wholly uninformed guess is that it will be quite a long time before they meet these expectations, if ever.
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