China crisis around the corner, economist predicts

11/13/2012 | MarketWatch

China's failure to make significant progress in building up its domestic consumer economy means the country might soon descend into economic crisis, says Bangkok-based economist Richard Duncan. The trigger will be a failure of the export market to pick up as "global trade is beginning to fizzle out to the point now where we are hitting the zero line on growth in terms of trade, if not negative. ... My view has been that China's miracle is driven by one thing and one thing only: its trade surplus with the U.S., which went from zero in 1990 up to now more than $300 billion a year," Duncan said.

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