How China can avoid 2008-like crisis-—commentary

China is in the acute phase of a deleveraging process that is causing remarkable volatility in the U.S. stock market. China must make hard decisions to avoid crisis and move onto the second, more benign, phase.

China's debt binge has been well documented and now the inevitable deleveraging is occurring. Much like the U.S. in 2008, China now faces tough choices. The political leaders in Beijing must engineer a deleveraging either through recapitalization, currency devaluation, economic growth, or outright default.

How China can avoid 2008-like crisis-—commentary