Like a burning race car that’s sped along the racetrack far too long with an overheated engine, it’s becoming more apparent everyday that China’s economy 2012 is ejecting into no-man’s land.

Jerel Bonner (马扬),  Principal Consultant at Sharpening Axes, who just moved his offices from Nanjing to Shanghai in hopes of positioning closer to the action (and profits), said of China’s economy 2012: “What I have heard is that business will be tough this year, just like last year. Dell is really hurting. Many clients say their profits are down and one GM I know lost his job because his company was not interested in developing new product as their current product ends it’s life cycle.”

A New York Times article, China’s Economy: Apocalypse Soon? posted this morning, sounds even worse:

“Talk of an economic slowdown in China has become so loud and persistent that it now has its own slang: ghost cities, ghost fleets, rocket eggs, naked officials. The downturn has even led to the invention of a new financial algorithm, something called the China Stress Index — and the index remains high.”

There’s a torrent of supporting documentation and research out there, including this 104 page China economy paper, published by Nomura to outline China risks. In that report, economist and strategist, Rob Subbaraman and Kevin Gaynor, respectively, discuss, among the many other points, “six key reasons why the risk of a China hard landing happening in the next three years appears to have increased.” They also predict a “one-in-three probability to China experiencing a hard economic landing commencing before the end of 2014.”

What do you think; is China’s economy 2012 heading for a heavy crash?