All countries rely nearly entirely on China for their manufacturing needs. The world's spending would be slowed if a real estate crash caused a sharp downturn in China's economy. The Nikkei never regained its pre-90s highs. In other words, it appears like even at this point, things are probably getting a little out of hand. The root of the problem is a desire to expand, and we need zero-growth economics that seeks to figure out what is "enough." In that case, what happens to the rest of the world if China's economy crashes?
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