I tend to look at the Chinese Bubble, with its 1.4 billion citizens and unprecedented Communist government control over finance, the economy and society, as the climax of a multi-decade global Bubble that, in important respects, gathered initial critical momentum in Japan. China, however, has used the Bubble to incredibly expand its global economic, financial, technological and military ambitions. One cannot overstate the global ramifications for a faltering Chinese Bubble. There is a multidimensional Arms Race aspect – economic, financial, technology, military and geopolitical power.
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