China's bubble about to burst?

"THINK back to when you were a child. You blew a bubble, it grew and eventually it burst. That’s how some of my former colleagues in Hong Kong are feeling about China’s prospects at the moment. There has been very little economic news to get excited about over the past two weeks. Britain is officially back in recession, Spain is on the brink of disaster, and a shrinking manufacturing sector and slowing growth in China are making economists I know ever so twitchy. During a visit to some of my old haunts from the 1990s, I was astonished to find that the shop where I used to buy newspapers (and the occasional cigar) now sold Dior and Fendi. “China’s going to hell in a handbag shop,” quipped one bearish friend." quote from twitter #cityinsider