John Naisbitt China is nowhere near being a bubble.

Naisbitt China is an opportunity not a threat. Naisbitt author of Chinas Megatrends

Naisbitt sees China as an opportunity because of its energy vitality and growth , Naisbitt also sees Chinas communism as a vertical democracy where 70% of the economy is now in private hands . This year China will become the second largest economy in the world , while gew weeks ago it has become the largest auto maker in the world , but still China has a long way to go in order to catch up with the US economy and also while China is a productive economy it lacks the innovation and creativity of the west ....
Naisbitt founded the Naisbitt China Institute, a non-profit, independent research institution studying the social, cultural and economic transformation of China located at Tianjin University.[1] In 2009, Naisbitt published China's Megatrends, a book analyzing China's rise.

John Naisbitt, a long-time China observer, provides a unique perspective on the transformation that is reshaping China′s economic, social, and political systems. With unprecented access granted by the Chinese government, Naisbitt sets out to collect data and information across all of China′s provinces and cities using the same techniques behind his international bestseller Megatrends. He argues that while America struggles to restore its position in the world, China is creating an entirely new social and economic model, fitting to Chinese history and society just as America created a model fitting its history and society more than 200 years ago. He identifies eight pillars of this new system.