Description:Â No one believed more fervently in Chinaâ€™s economic miracle than the residents of this pretty coastal city, which produces shoes, eyeglasses and cigarette lighters sold around the world. The good times of the past decade made many in Wenzhou rich, and residents repeatedly doubled their bets, pouring their earnings and more into stock markets and real estate.
Questions for discussion:
- Summarize the analysis presented in the report.
- How is this Chinese debt crisis similar to those in Europe and the U.S.?