Chine = Japan 2.0?
http://en.wikipedia.org/wiki/Lost_Decade_(Japan)
The strong economic growth of the 1980s ended abruptly at the start of the 1990s. In the late 1980s, abnormalities within the Japanese economic system had fueled a speculative asset price bubble of massive scale by Japanese companies, banks and securities companies. The combination of exceptionally high land values and low interest rates briefly resulted in heightened liquidity in the market. It led to massive borrowing and heavy investment mostly in domestic and foreign stocks and securities.
Recognizing that this bubble was unsustainable, the Bank of Japan sharply raised interest rates in late 1989. This sharp policy caused the bursting of the bubble, and the stock market crashed.