Please read this article. China may lose some export business to a slowing U.S. but itdoesn’t suffer from the same systemic financial cancer that is affecting the U.S. and all the other countries that gotdrunk on mortgage-back derivatives.
China has only a fraction of the risk to the globalfinancial crisis. The Chinese government owns most of the land, most homes are owned free and clear, a hugeforeign exchangesurplus, and a closed financial system that has severely limited how much Chinese businesses, banks, and institutionscould invest in U.S. assets.
