Grief will steal the Chinese miracle

Behind the funding of part of China's growth is a giant Ponzi scheme based on unsustainable lending.

The two miracle economies during the global financial crisis – China and Australia – are in trouble. As we look back at the various crises over the last 15 years it is clear that, in hindsight, there were clear warning signals, if only we had been smart enough to recognise those signals. Suddenly clear advanced warning signals are emerging from both Australia and China.

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