The physical economy seems beyond recovery, with a grim situation from Guangzhou in the south to Changchun in the northeast. Regardless of the size of the city, street-side shops, commercial districts, and pedestrian streets are struggling. Urban centers are eerily quiet, contradicting official claims of a "booming" domestic market. Mainland financial experts agree that China's economy is plunging into a major depression. #chinaobserver All rights reserved.