ECONOMIC AFFAIRS: China’s growth is unsustainable*

The next major shock to the world economy could come from Europe (see “Could global tsunami bring down the Eurozone?”, News Weekly, June 11, 2011), or, as New York University Professor Nouriel Roubini argues, it could come from China.
Europe’s strategy is to hold off the PIIGS (Portugal, Ireland, Italy, Greece and particularly Spain), from defaulting on their debts until the European banks are strong enough to withstand the shock from a major default.
Meanwhile, Marti…

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