Krugman frets over China "ponzi scheme", Korean debt

It's not India and Indonesia that keep renowned economist Paul Krugman up at night, amid the dramatic investor rout that emerging markets have suffered over the past few months. "The place I'm frightened about is China," the recipient of the 2008 Nobel prize for economics told attendees at Swiss bank Julius Baer's Next Generation Summit 2013 in Bali last Friday. In a forthright speech that took the audience a little aback, Krugman likened China to a giant ponzi scheme as it buil…