May 19, 2007

POISONED TOOTHPASTE IN PANAMA: It seems to have come from China, natch. If China’s economic bubble bursts, it may be because things like this hurt its export markets. And they should. As Carole Borges at Knoxviews writes: “What’s up with China?” An economy that’s growing so fast nobody can keep track, plus rampant official corruption. I’m not sure that will last. In his book, Brave New War, John Robb predicts the fragmentation of China as corruption destroys governmental legitimacy. If that’s coupled with an economic slide as exports fall off, it could happen, and it could be extraordinarily ugly. I suspect that the Chinese government is keenly aware of this risk, but it’s not in a position to do much, I’m afraid.

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