There is only one solution to the Chinese dilemma – go and tell everyone that you were living far above your means for decades and that now not only the party ends but now its time to clean up the mess. And considering the mess it is, it will be a very long cleanup. I doubt anyone likes that so everyone will just look the other way, pretend as if nothing has happened and go on making the mess even worse. Only a free market economy can excel – the rest are fakes.
Stock-market turbulence and a sharper-than-expected economic slowdown are ratcheting up pressure on China’s leaders, just as Donald Trump does the same. A day after the Shanghai Composite Index plunged to a four-year low and Trump took new steps to escalate his trade war with Beijing, third-quarter growth figures showed China’s economy expanding at the weakest pace since the depths of the global financial crisis in 2009.