Quoted: Move Over, Michigan, China Is The World's Next Rust BeltJust two years after China overtook the U.S. to become the world’s largest manufacturer, the country faces the prospect of decades of de-industrialization. And there is little Beijing can do to arrest the slide.Today I attended a luncheon at PIMCO, managers of the world's largest bond fund. The speaker said essentially the same thing. He said, "There are only so many buildings and bridges--many of them already unused and rusting--that China can build."
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