Nice to meet you http://lamalinks.fun lama links Xia Bin from China's Development Research Center (DRC), home of reformers, says it is time to end happy talk and brace for condign punishment. "We need to find ways to let the bubble burst and write off the losses we already have as soon as possible to avoid an even bigger crisis. It means hard days, it means the bankruptcy of some companies and financial institutions, above all it means reform," he said. Mr Xia said the debate over China's growth rate - allegedly 7.5pc - is surreal since the country is already in the grip of an unprecedented financial crisis.