View on China's meltdown: the end of a flawed globalisation

``... what's coming to an end is a terribly skewed system in which western consumers made up for disappointing wages by borrowing money from Chinese producers, who in turn bought up western bonds, banks and land. This is no bad thing for the west or China. Eight years ago, a wise man described China's economy as "unstable, unbalanced, uncoordinated and unsustainable". That expert was Wen Jiabao, then the country's prime minister.''