The Storm's Comin'

A bit belatedly, these are two must-read overviews of how the global financial crisis will affect China. The first from Elliott Ng (CNReviews) who also in part summarizes the second from Brad Setser summarizing the World Bank China Quarterly (also linked to by just about everyone in the China blogosphere already and also Paul Kedrosky who I also follow).

Mr. Ng provides a cogent argument of why China will suffer disproportionately than the US as a result of the crisis and the World Bank China Quarterly describes the almost overwhelming challenges ahead. Both are worth reading.

Update: Another good (and by comparison, short) read on the changes China needs to achieve in its institutions to continue fueling its long term growth (EastAsiaForum) via Richard Brubaker from AllRoadsLeadtoChina