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What China Problem?

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What China Problem?

What China Problem?

The prevailing image of China in the economic imagination is a place of ghost cities, empty highways and bridges to nowhere confected by unnecessary infrastructure spending after one of the most Keynesian of stimulus experiments kept the economy going in 2009. To some, the government-sponsored growth was a miracle that enhanced the lives of millions of people.To others it was an orgy of misallocated capital laid out by a centrally run economy—a Monopoly game of government stock price and currency manipulation doomed to fail.

But how accurate is the popular image and what would it mean for the rest of the emerging markets?

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