china is stairing into this abyss thanks to the hubris of its rulers. they lifted tens of millions out of poverty. when the financial crisis hit in 2008, they wanted to keep things going. they began a massive stimulus program and they have not wanted to pull the plug on it for fear that economic growth would come crashing down. ironically while the country don't have to worry about elections, they are worried aboutag agag agngering the popu that they are unwilling to stop goosing the economy. beijing still has extraordinary tools at its disposals include g ing strong fundamentals and huge experts of cash.