This is an outstanding article, by Stanford‘s Professor, Michael Boskin, republished in the Guardian (source Project Syndicate). Boskin argues that as share prices continue their rollercoaster ride, China’s governance problems are becoming impossible to ignore.

Source: China’s economic woes extend far beyond its stock market | Business | The Guardian

This is an insightful must-read article.

China’s growing pains have been enormous. China’s elite wealthy families have diversified their assets increasingly into global real estate, but for ordinary families there are deep scars. When I was in Beijing, our guide told us that he needed to support his whole family, including wife (not working) and baby, plus his and his wife’s parents and grand-parents in the provinces – there are not the social sefety nets common in the West. When the economy slows or diversifies the ripple effect is enormous.

Thoughts?