SC, >> wasted $6.8 trillion <<
They at least have something tangible to show for it -- lots of ultra modern, fully equipped cities, roads, power plants, transportation systems, water + sewage sytems, etc, etc. That's a lot more than the US has to show for trillions sent down the rathole to prop up the zombie banks and their steaming heap of toxic Derivatives.
Still, that $6.8 trillion infrastructure bubble in China could turn out to be the spark that starts the next global financial crisis. Jim Rickards has it near the top of the list for potential triggers (in addition to a possible breakdown in the petro-dollar system), but he stresses that we shouldn't focus on what the precise trigger will be - the important thing is that the current financial system is exceedingly fragile and will come unglued, with the exact trigger being somewhat moot.
