Like Soviet Russia in 1959, has China's economy already peaked?

Structural over-capacity and falling productivity in many once-booming sectors means the Chinese economic model is now in crisis, Barry Norris, founder and CEO of Argonaut Capital.

When in 1959, Nikita Khrushchev visited the US; the spectacular economic growth recorded by the Soviet Union was commonly regarded as a challenge to the supremacy of the western model of democratic capitalism. Impressive statistics, such as its manufacturing output of tractors, mesmerised Western opinion formers. Newsweek warned that the Soviet Union might well be "on the highroad to economic domination of the world". American economist Paul Krugman's economic analysis suggested this "economic miracle" could be explained simply by the "rapid growth in inputs: expansion of employment, ...