A real interesting take on China (link via Happy Carpenter) from the Econo Pundit. Basically the Econ wonks say that Chinese banks owe 150 bil they can't pay back, that tons of non-performing companies are held afloat by phony loans from the government---my God! That sounds like Communism. But it can't be. I read in the Wall Street Journal that China was a hot investment---credit is not nearly as available as before because of the weakness of the Chinese banks and, and, and lots of stuff. Go read. Oh, and the Chinese strongly suspect that the EU is not really interested in free trade. Go figure.
A correction, sort of----apparently this take has as it's genesis the Brothers Judd BTW The Brothers Judd has become a terrific site. I haven't read it in quite a while but I intend to make it a daily stop. Go there and see if you don't agree.
OK, OK, stop emailing me. Maybe the original post started with the JWR, who cares? The data is good.