For the first time in the 30 years since China began its capitalist transformation, there is a perception that the economy is in real trouble. And for the Communist Party, the crisis is not just an economic one, but a political one. The government's response offers a glimpse into its still ambiguous relationship with capitalism -- relatively hands-off in good times, but quick to intervene directly at the first signs of a downturn in order to prevent popular unrest.China's economic certitude crumbles - Washington Post- msnbc.com
Remember Japan. I remember reading in 1990 that Japan could overtake the US econonmy somwhere around 2002. Then it was Korea and Taiwan. There seems to be a limit these export based Asian economies reach. India has so many problems she is due in about 5 years for a similiar problem, and unlike China she does not have a very strong government or a wide economic export boom.