A most peculiar crisis is developing for the Chinese economy – and, indeed, for the regime — while the world’s attention is riveted on the chaos and terror in the Mideast and Russian aggression in Ukraine.
Not the smallest element is the clever manipulation by Beijing’s strategists of the world’s hopes for continued remarkable Chinese growth as a last call instrument to bail out a dawdling world economy.
That misapprehension of China’s economic capacities may well forestall, again, at least for a time, an inevitable coming to grips with basic problems of it vast society under the Communist Party monopoly. But there is growing evidence that China’s financial problems have reached a crescendo that Beijing can no longer manage.
