Zachary Karabell – China’s Growth: Still for Real

ZACHARY KARABELL. "China’s Growth: Still for Real," The Atlantic, January 22, 2009. "No doubt, China’s trajectory will include bubbles forming and popping (or most precisely, being popped by government policy). No doubt, that will have an effect on stock prices and sentiment in the short-term, mostly negative. But make no mistake: this story is not Japan in the 1980s, and it isn’t a flash in the proverbial pan. It is real; it is shaping the global system; and it will remake the economic landscape as surely as the emergence of the United States in the early 20th century did. Skepticism is healthy, but not when it becomes dogmatic and blinds the eye to real change. Overestimating China is a risk, but the consequences of underestimating it are far worse."

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