Oh come on there has never been a hyperinflationary collapse of a reserve currency in history, what is it going to collapse against ? The RMB? EUR? AUD? YEN? and if it did collapse they have all the bloody gold anyway :) ask yourself in the history of hyperinflation has there ever been a country with 90% of the worlds gold go into a hyperinflation.
The different perspective is pure propaganda, the Chinese government is the most corrupt and inefficient in history.Ive not just travelled in China ive been working there at every level in the bank sector. I know the quality of their credit because ive been part of Mckinsey reviews of credit policies and processes.
3rd time lucky? The Chinese government applies a recklessness to monetary theory and practice that makes Bernanke look competent.
Believe in your fantasies all you want the reality is here soon enough.
I dont know why you keep raising Gordon Chang? He didnt predict the Chinese downfall in 2001 , he predicted it in 2011, so at this stage he is one month off.Thats hardly something to crow about.
All this false loyalty to your country by failing to advocate more prudent policies will eventually end in great suffering for the Chinese people.
I predict the Communist party will be hoisted from power by 2015 .
"Edwards's view was supported by the historian Edward Chancellor, who said China's recent economic performance conformed to the pattern of previous manias and bubbles in history. These included an uncritically assumed growth story, easy money and credit expansion, investment booms and the misallocation of capital, and conspicuous consumption.
The warning of fresh trouble ahead came as the World Economic Forum said rising youth unemployment, pressure on pensions and a growing gulf between rich and poor were sowing the "seeds of dystopia" that were putting at risk the gains from globalisation."
There will be revolution in China before this decade is out and the tyrants will be thrown from power.
