Ambrose Evans-Pritchard — China's August scare is a false alarm as fiscal crunch fades

The situation in China is desperate but not serious, to borrow an old Viennese saying.
Countries with a tight exchange controls and state banking systems may come to grief in the long-run, but they do not face the sort of financial collapse seen in the US and Europe in 1931 or 2008.…

The Telegraph
China's August scare is a false alarm as fiscal crunch fades
Ambrose Evans-Pritchard