Over the past three years, there's been a remarkable transformation in global perceptions about the sustainability of Chinese growth. As Europe faltered and the U.S. fought a massively oversupplied housing market, China managed to sail through difficult global economic conditions and seemingly avoided the difficulties that ensnared much of the West. In 2010, the world was convinced that Chinese economic growth would save the world. China had grown to become the world's second largest economy and many extrapolated this trend to the day that China would be larger than the United States. Few questioned this belief, and investors titled their portfolios towards assets that would fare well in a world of strong continued Chinese growth.
