So says this article….
This is a great article for summarizing everything the bogus notions that I’ve seen about the Chinese economy. It briefly goes over pretty much every single fallacy of the Chinese economy. Two of them are:
1) the false analogy. In particular bad things happen when you compare a company with a nation. Nations can do things like print money, and if you end up with an overproduction problem, then the rational thing to do is to start dropping money from the skies so that the factories are producing. If you really have overcapacity, don’t worry about borrowing money. Just print it.
2) overgeneralization – One building in Shanghai fell down and therefore the entire Chinese economy is doomed.
Also if you google for “China” and “bubble” you end up with this article from 1994