A borrowing binge by chip companies pushed debt-raising by tech companies to a previous peak in 2006, before a cyclical downturn.
In December's edition of China National Conditions and Strength, a monthly magazine, two Beijing academics, Liu Qiyun and Wang Junping, said the end of the Olympics would coincide with a cyclical downturn in China's economy, exacerbating the risk of a post-Olympics slump in the capital.
Some do not even realise that cyclical downturns are normal.
