''China’s Credit Expansion Dilemma''

"China's economy must grow at 8% or better every year in order to create enough new city jobs to absorb the millions of immigrants leaving the farm for the factory. Without credit growth you get higher unemployment...or vast armies of unemployed peasants with no work to be found in China's huge cities.

You can see what a massive social and economic challenge China's central planners have. They have engineered the largest internal migration in human history. This was only possible with a giant infusion of credit. Now the whole economic fabric of the China relies on continued credit expansion."

from daily reckoning.....