Richard Duncan's new article, "China: Every Boom Busts"

Richard Duncan, the former global head of investment strategy at ABN AMRO Asset Management in London, wrote an article about China recently.He argues that the growth of China's economy is largely depends on the debt-fuelled consumption from the U.S. consumers. Once people in the U.S. slow down consuming goods imported from China, the boom will bust.

But have U.S. consumers ever learned the lessons of stopping buy stuffs that they do not really need? There is an old Chinese saying, "It is easy to step from thrifty to sumptuous, but it is hard to do so in an opposite way"

China: Every Boom Busts  by Richard Duncan on May 3, 2011