The collapse in the real estate market in China, and subsequent banking crisis, haven't attracted much media attention in the United States. However, it is a very real story to the average Chinese citizen and that country's prospects for economic growth moving forward. Simply put, the incredible erosion of wealth due to falling housing prices will constrain consumer spending and investment for the foreseeable future. Numerous private sector bank failures will leave Beijing even more in control of the financial system. As a result, what the central government doesn't outright own it can control through the access to credit. This will undoubted curtail innovation and entrepreneurialism. While China can continue to grow and remain a threat to the United States, its growth rates have peaked, probably permanently. What will that mean as the Chinese Communist Party tries to cling to power?     In this week's Trading Perspectives, Sam Clement and John Norris discuss the ongoing real estate and banking crises in China, and how it will likely impact the global economy? Why is this such a secret?  

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