Schadenfreude at China

Some people, especially on the Right, are chuckling at the negative consequences of rapid growth: city-scale developments standing empty, problems with transportation infrastructure, etc.

They may stop laughing if/when China keeps its economy going, and its surplus males occupied, via increased military spending. The products thereof may not lie around unused.

As for me in 2010:

I decline to project China's future until they've gone through at least one business cycle.

I said that when they were riding fast and high, I'm saying it now that they're looking wobbly, and I expect to repeat it when they're banged up from a fall.

I'm sticking with it.