"China's Long-Term Prospects Look Grim" and the Rest of the World Doesn't Look So Hot Either

In "The crisis rotates from America to Europe, and Asia," Evans-Prichard argues that many of the world's other large economies will start to falter, not due to the US slowdown but their own flagging fundamentals. The bit that caught my eye was this:

I confess that I do not speak with authority on China, and may be wrong to doubt the miracle -- so much like the Japan hype of the late 1980s to my jaded eye.