China’s credit-fueled bubble economy is falling to pieces before our very eyes. Between 2008 and 2013, China’s credit market increased from $9 trillion to an incredible $23 trillion. To give this number some perspective, China’s GDP is a little over $7 trillion. So China today has a credit market well north of 300% of its GDP. There is simply no other way to view this than as a bubble. Indeed, we see all of the clear signs of a bubble in the real estate markets today with countless ghost cities, massive empty malls, and other excess capacity. What’s truly stunning...