NEW YORK ( TheStreet) -- China has the largest credit bubble in the world.We have tracked the private sector credit in China for the past several years. It's a parabolic curve, and as market observers know, parabolic moves eventually collapse. My e-book, "The Coming China Crisis" (150 pages), one year ago predicted a crisis. It was greeted with great disbelief, similar to our book written in 2007, "Prelude to Meltdown," which predicted that 2008 would see a potential meltdown in the U.S. system. Very few people believed it and the financial media ignored it. But now it has surfaced.