How China's Boom Caused the Financial Crisis - By Heleen Mees | Foreign Policy: "The immediate cause of the housing bubbles in the United States and the eurozone periphery was not regulatory oversight failure, but the precipitous drop in interest rates in the early 2000s. And the country that bears partial responsibility for depressing interest rates is a traditional punching bag in the American political arena, one that has somehow avoided most of the blame in this round: China. The ascendance of the world's most populous country in the global economy not only changed the terms of trade, but it also had a considerable impact on the world's capital markets."
This article has a lot of shortcomings and can often be somewhat self-contradictory on what really happened with mortgages in the U.S., but it's worth a read -- especially for the "mask slip" that the lib's Luddite-watermelon policies have effectively been a tremendous foreign aid program for China...
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