Brad DeLong — I have been a “China is unlikely to keep its model going for more than another five years—a decade tops” perma-bear since 1988.

Summary:
I have been a "China is unlikely to keep its model going for more than another five years—a decade tops" perma-bear since 1988. All I understand is that I do not understand the Chinese economy. I wish I did understand it: Arvind Subramanian and Josh Felman: R.I.P. Chinese Exceptionalism?: "Over the past few decades, China’s growth has appeared to violate certain fundamental laws of economics.... China’s debt keeps on rising.... For any normal country, the build-up of extensive surplus capacity would lead to sharp declines in investment and GDP growth. And that, in turn, would produce financial distress, followed by a crisis if the warning signs were ignored. But China has had a different experience... Ha ha ha. Maybe they aren't laws?Grasping RealityI have been a "China is unlikely to

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Mike Norman considers the following as important: Chinese economy, conventional economics

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