Dan Collins of the The China Money Report sees smooth sailing for the Chinese economy. He believes that much Western reporting that makes numerous claims of an economic bubble are gross exaggerations. The ghost cities are largely overblown. Most Chinese are cash buyers and even those that take out mortgages still put up 30 percent. China has become the largest trading nation in the world. Its currency is set to supplant the dollar over the next several years. Their main problems are inflation and the environment-which continues to rapidly deteriorate. Dan believes the best way for Americans to play the China story is by investing in Hong Kong. Right now HK dollar is pegged to the US dollar, but many experts expect that peg to soon break. That will lead to massive profits for those holding the HK$.
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