its not dumb luck they have ridden the western debt explosion by being its chief supplier of goods, that is westerners borrowed money to buy stuff from China , as this debt implodes and austerity takes hold the Chinese are left with massive over capacity, who do they sell their goods too ? the Americans, the Europeans? the Japanese?
A debt driven consumption explosion in the west is no different than a debt driven production explosion in the east, the Chinese Siamese Production twin can claim all they want that they are separate and unique to the Western Siamese Consumption twin, but when later goes down the plug hole the former will get dragged in as well.
As for the communist party being some kind of wondrous central planing miracle it is a joke !. People who think China will sail through this cant do basic math, they are caught up in nationalism not math. The corrupt Chinese government makes the Americans and European governments look like moral and ethical saints.
Yet the Chinese propaganda is soaked up by every armchair expert in the land.
