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All G7 countries, except Canada and Germany, will have debt-to-GDP ratios close to or exceeding 100% by 2014, says the IMF.
If there was a 25% devaluation of the dollar against the yuan or 25% import duties on Chinese goods, as some highly influential US economists are suggesting, China would sink into a deep recession as exporters already operating on wafer-thin margins are plunged into insolvency. American businesses, which rely heavily on China as the assembly plant of choice, would also find itself deep in the mire.
The Western press does not report on them. But these women are transforming China—in a big way.
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