To read the original version of this comment in the original context at Macrobusiness.com.au click this link. (link maybe locked – but there is a free trial available)

That linked Michael Pettis interview is very good.

http://tablet.fuw.ch/article/china-has-two-more-years-left-to-adjust/

What happens in China depends on the willingness of the current ‘winners’ to accept more winnings going to the current ‘losers’.

Historically most countries find this is a stumbling block as the winners prefer to wreck the joint than allow lazy leaner ‘losers’ a leg up.

Hope China are not hoping that Australia will provide them with a roadmap.

Mr Abbott’s team seem very keen to maximise opportunities for ‘winners’ to keep on winning rather than create conditions for more winning by all.