America’s facing not one but four “fiscal cliffs”: Bush-era tax cuts, Pentagon budget cuts, social-program cuts and the continuing battle over “Obamacare.” China, though, has even bigger problems. Five months ago, we quoted World Bank President Robert Zoellick’s warning of “a spreading crisis” in China that could consume the $75 trillion global economy. Back then we bluntly asked: “China? Or America? Who will crash the global economy first?” Think: China
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