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The debt IS from corruption. Many of those companies wouldn't get loans if they weren't protected by the local party cadre. The biggest problem (and this was a big part of the problem with Japan as well) is how / when the loan is considered 'bad'. In Japan banks kept lending money to their...

Rice prices have already come back down. Read about the JAPANESE stockpile of rice. That is SUCH a classic Japanese bureaucrat's solution. The WTO requires us to import rice? Ok, we'll buy it, but we won't actually release it into the Japanese market because the LDP depends on rural support. So...

Wait until the US market slowdown reveals just how much useless stuff (factories, office buildings, white elephant 'biggest and best' projects) the Chinese have been building. They'll need their reserves to bail out their banks. Alex