China; economic growth or just another bubble?

It seems that the markets are getting nervous about the Chinese economy, last year the Chinese pumped 1.7 trillion USD, into the economy in the form of credit, and money supply expansion. What this actually means is the the Chinese have caught the Anglospheric disease of money printing and cheap credit.

Most of this cheap money  has found its way into the Euro bond market, China bought pretty much all the Portugese debt last week, $1.5 billion's worth, also the property market in China seems to be on over drive, and is showing all the signs of the classic bubble we have come to recognise. China has whole cities built to house hundreds of thousands of people, but no one has moved in. There is massive over supply in the commercial property market, including factories and offices, retail.

China is just emulating the bad economic management of the West, credit is being given to un-sound companies at very easy terms, creating a false and unsustainable economic upswing, but as inflation batters at Chinese growth, the bubbles will surely burst, and hyper inflation may come swiftly after, which will make the current down turn look like a tea party.

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