Is China a timebomb?

Sadagopan's post about Gary Halbert's the-sky-is-falling prognostications on China is a worthy read.

In a nutshell:
1. China's boom is an understatement.
2. A banking crisis is inevitable because of huge non-performing loans.
3. Most Americans have no idea that China is in such bad shape financially.
4. Plenty of analysts believe China will work its way through the bad loan dilemma without a crash.
5. The risks of investing in China now are very high.
6. A meltdown in China could send the US and Western equity markets into a bear market as well.

More from Gary Halbert.