by Jay

Larry Lang, chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.

Golly. I guess the "china model" ain't all it's cracked up to be after all, unless you're in a position to benefit from the built in corruption. Funny, seems like the US ain't in all that different a state of affairs. There's a moral to the story, I'm just sure of it!