China

Tyler Cowen shares my concerns about China, namely that they can’t take a punch, or in this case, an economic downturn.

If you are not convinced, raise your right hand and repeat after me: “China in the 20th century had two major revolutions, a civil war, a World War, The Great Leap Forward [sic], mass starvation, the Cultural Revolution, arguably the most tyrannical dictator ever and he didn’t even brush his teeth, and now they will go from rags to riches without even a business cycle burp.”

It’s worth reading the whole thing.