Pubonomics :
What is happening? Why is China—the country that people once thought was the engine of the world economy—tottering so badly ?
To answer these questions it is necessary to recognize that China was never the engine of the world’s growth. To be such an engine you have to import more than you export. Then you would create a demand that is filled by other countries, which as a result export more than they import. Importers are the engines in the supply trains of the international markets. Exporters are the wagons, pulled by the demand created by the profligates. Think of what drives liquor markets: barmen or drinkers?
Credit: Michael Lomax, Impossible Bottle
Abnormal Capitalist 