There is a fin de siècle feel about China. Growth is fading fast but the stock market is galumphing to evermore exuberant, and seemingly irrational, heights. The property boom is over, as is easy government financing courtesy of land sales. Imports of commodities have slumped, as anyone in Brazil and Angola can tell you. Money is pouring out of China at an unprecedented rate and those who can are busily securing a foreign bolt-hole for themselves in case things turn sour.
現在的中國頗有世紀末的意味。增長迅速放緩，但股市高歌猛進，持續上漲至似乎有些不理性的高度。房地產繁榮已經結束，政府依靠土地銷售輕松獲得融資的日子也過去了。大宗商品進口大幅下降，巴西和安哥拉的每一個人都會告訴你這一點。資金以前所未有的速度流出中國，那些有能力的人正忙于為自己打造海外的避風港，以備在局勢不妙之際一走了之。
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