Is China's economy actually a train wreck waiting to happen?

A turning point for China?

Jul 27, 2011 22:48 EDT

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By George Chen
The opinions expressed are the author’s own.
Is the train crash tragedy becoming a turning point for China’s political and economic development?
Frustrations among the Chinese public have been growing rapidly — at least on the internet if not yet in the streets. People are particularly unhappy with the way the Ministry of Railways has dealt with the train accident, which so far has cost 39 lives.
It has now turned into a full-blown crisis. Shen Minggao, chief Greater China economist for Citigroup, said in his latest research note to clients that the train tragedy could become “a turning point in the China growth model.”