Warning from history: Could Japan-style crash hit China? | Daily Mail Online
Sizzling property prices, a groaning debt load, wealthy tourists and tycoons willing to slap down eye-popping sums for art: China is starting to look like Japan before its economic bubble burst in the early 90s.
The similarities are not lost on Beijing: President Xi Jinping has commissioned a study to help China avoid Japan's pitfalls, according to Bloomberg, as growth slows and
via drudgereport.com
Japan was the original Asian tiger, with growth surging at an average 9.0 percent annually between 1955 and 1973 in the long postwar boom, turning it into one of the world's great economic powers.
China has also basked in heady growth -- replacing Japan as the world's number two economy in 2010 -- and has not seen a single recession in decades.
