Fitch says it's unprecedented in modern world history.
"The credit-driven growth model is clearly falling apart. This could feed into a massive over-capacity problem, and potentially into a Japanese-style deflation," said Charlene Chu, the agency's senior director in Beijing.
Over-capacity? Never:
http://www.macrobusiness.com.au/2013/06/haunting-photos-of-chinas-latest-ghost-city/
