If you really want to understand how China views theU.S. credit crisis and our real estate bubble, read this Asian Timesarticle. Here is a quick except.
“China’s economic problem is the inverse of America’s:China has achieved fast rates of growth at the expenseof huge disparities between the prosperous coast and the backward interior, as well as excessive dependence on foreignmarkets. China’s policy response to the economic crisisis far more radical than Washington’s. Rather than attempting to patch up the situation and restore the status quoante, China plans to spend nearly a fifth of its grossdomestic product on an internal stimulus focused on infrastructure in its interior. Severe execution risk attends theChinese proposal, and markets remain to be convinced”
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