I offered a decade of warnings (and examples of why failure was inevitable) that nobody wanted to listen to while I was living there and many people,globally, were stalling by claiming 'China will never fall!' - which didn't make living there any easier but has, lately, has gained me much respect as a very far forward thinker. . Unfortunately, that denial they convinced themselves of was just a lie people told themselves so they could keep getting more (unwise) business and market investors and so they could borrow money they would never be able to pay back - ultimately resulting in their having to give up everything they acquired just to survive. It was a short-term benefit and will be a long-term tragedy - a foolish gamble. . Now, the chickens are coming home to roost... . Combined with the global economic instability, the already falling Chinese economy, exponentially growing Chinese debt and subsequent future failure of their financial system accompanied by a loss of trust by investors and, probably, even being removed from the IMF and World Bank - China is digging itself into a massive hole that gets deeper by the second. . I stand by my prediction as I always did...and, unfortunately, bad karma is on the horizon for China. For those who still think China will weather this storm...stay tuned. . I think you're in for a rather upsetting surprise...

I offered a decade of warnings (and examples of why failure was inevitable) that nobody wanted to listen to while I was living there and many people,globally, were stalling by claiming 'China will never fall!' - which didn't make living there any easier but has, lately, has gained me much respect as a very far forward thinker. . Unfortunately, that denial they convinced themselves of was just a lie people told themselves so they could keep getting more (unwise) business and market investors and so they could borrow money they would never be able to pay back - ultimately resulting in their having to give up everything they acquired just to survive. It was a short-term benefit and will be a long-term tragedy - a foolish gamble. . Now, the chickens are coming home to roost... . Combined with the global economic instability, the already falling Chinese economy, exponentially growing Chinese debt and subsequent future failure of their financial system accompanied by a loss of trust by investors and, probably, even being removed from the IMF and World Bank - China is digging itself into a massive hole that gets deeper by the second. . I stand by my prediction as I always did...and, unfortunately, bad karma is on the horizon for China. For those who still think China will weather this storm...stay tuned. . I think you're in for a rather upsetting surprise... - London (CNN) — China needs to tackle its corporate debt problem before it spirals out of control.That's the message from the International Monetary Fund, which warned China about its debt levels on Friday."China's medium term outlook is clouding because of high and rising corporate debt," said James