China Bubble Bursting?

Rand Simberg at Transterrestrial.com remarks on the bursting of the Shanghai housing bubble. He then links to a thoughtful posting at Samizdata.net.

China's economy is intimately tied to the economies of all other developed nations of the world. If the China buble bursts, there will be significant international fallout, economically. Go ahead and read the samizdata.net article and comments.

Then go readthis TechnologyReview.com article about China's attempt to create a world class science infrastructure. Part 2 of the same series presents even more details about the differences in the way western scientists and Chinese scientists view the enterprise and ethics of science. Part 3 should appear in tomorrows issue.

If not for its communist government, and other "top-down" societal forces, China might be in line to lead the world toward the "singularity". The people are intelligent and hardworking. The entrepreneurial skills of the Chinese are second to none. We should all hope that the Chinese can emerge from their current difficulties to become a harmonious partner with western civilisation.