Is China’s Collapse Finally at Hand? Danny Quah

For three decades now many of the world’s most insightful observers have predicted imminent demise to China’s system. But these same three decades have also seen China confound expectations. China’s economy turned in double-digit growth rates. China lifted 600mn people out of poverty. While 35 years ago China’s per capita income was only US$300 (just 2 per cent that of US per capita GDP) and 800 million Chinese lived in extreme poverty, today China boasts more US dollar billionaires than any other country.