VP, i read the article,the spinning top and the bubble for China! IMO your "but" is a YES. One thing that China has overplayed is the principle of which sent Japan into a tailspin which has really put a tight grip on her economy. Not that they are going away, Japan and S. Korea and the other "now" slowly emerging Asian economies, BUT! The BUT is an olde rule which refers to too much goods on the shelf and or your entire system dependant upon that system and to regroup/retool they have a challenge which met Tokyo head on and they lost in the gambit. Nothing wrong of/for the intent in China, BUT too much lettice at the MKT and the fragility of it all becomes a desperito era emerging for Peking, just as Japan. So if the Globe circumvents Peking then yes some factores in Peking are an House of cards. For them it will be a big recession, but for the emerging Global factoids it is building upon solid ROCK as the diversity of it all creates for future investors to have well diversified folios and with that growth. The supply side sets the stage for offshore growth juxtaposed against Peking. Fear not that China will do just fine as Japan has, BUT her extension may eventually be getting eaten up by the efficiencies of the offshore trading costs, and those ongoing costs are very huge to run such a gammit as to the ambition to be the only MKT of chioce on a global scale. So we do not know but China may well have planed for such a case, but i doubt that very much. Count on China to put on a show and call a "GLOBAL BLUFF" so as not to expose Her real dilemna to us all!