The biggest risk in China?

With growth of 10% per annum for more than two decades, the only thing growing as fast as the Chinese economy is the hyperbole that surrounds its ascent. Recent surveys suggest that most Americans now think the Chinese economy is the world’s largest. Books with titles such as The Chinese Century and When China Rules the World capture the awe – and the fear – that Chinese growth has provoked. At least until recently. Today the mood has changed from wonder to worry. Being bearish on China is now the new consensus. The complaints are all familiar; that China is...

With growth of 10% per annum for more than two decades, the only thing growing as fast as the Chinese economy is the hyperbole that surrounds its ascent. Recent surveys suggest that most Americans now think the Chinese economy is the world’s largest. Books with titles such as The Chinese Century and When China Rules the World capture the awe – and the fear – that Chinese growth has provoked. At least until recently.

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