Roubini Warns China's Economy Unstable; Risks Hard Crash

First, it was Paul Krugman warning about the likely crash of the Chinese economy. Now it's Nouriel Roubini. In a commentary about the BRIC countries (Brazil, Russia, India, China), Roubini writes:

China's economy grew by 10% a year for the last three decades, but slowed to 7.8% last year and risks a hard landing.[...] Indeed, China's slowdown reflects an economic model that is, as former Premier Wen Jiabao put it, "unstable, unbalanced, unco-ordinated, and unsustainable..

Of course, EPJ Daily Alert readers were well aware of the developing crisis in China, long before that. In the October 10, 2012 ALERT, for example, I wrote:

 China is likely at the start of one the greatest stock market and economic crashes in history. In 2010, Chinese money supply growth was over 30%. In order for the Chinese central bank to maintain the manipulated economic structure created by that money printing, the PBOC would have to print at 30% plus, but fears of stoking price inflation and civil unrest will prevent them from printing anything close and thus the collapse of the structure.

What's noteworthy about the commentary from Krugman and Roubini is that they are both very well connected and I suspect they are issuing there warnings after being briefed by those who are on the ground in China and see the crisis developing up close/