One of the most interesting things I’ve read in the last few days is this fascinating blog post by Robert Peston in which he suggests that the recent turmoil in China’s money markets, the sharp reduction in the flow of credit between banks and the rising cost of loans between banks might presage the kind of financial collapse that countries like Ireland experienced in 2008. As I was pondering the implications of this I read in today’s Observer that Bentley (whose 19.2 mpg Flying Spur retails at £140,000) plans to open 45 dealerships across China in the next two years, and doubt hardened into certainty: the Chinese are locked into a credit bubble, and we all know how those end.