http://globalpublicsquare.blogs.cnn.com/2013/09/04/china-on-verge-of-worst-economic-crisis-in-decades/
But appearances are deceiving. Behind these statistics lies a far more fragile Chinese economic reality. The relative calm of the Chinese economy actually conceals far greater risks.
The biggest short-term
risk is financial overleveraging. Thanks to its decade-long credit boom, the Chinese economy as a whole is far more leveraged (indebted) than any of the major emerging market economies. Net domestic credit as a share of GDP is close to 140 percent in China, compared with roughly 90 for Brazil, 75 for India, 60 for Turkey, and 35 for Indonesia. To make matters worse, most of the debt is owed by state-owned companies, real estate developers, and local governments that are known for wasting capital on financially unprofitable investments.
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It is how we screw over everyone. Capitalism and 3 card Monty can be exactly the same game for the naive.