China is likely headed for a full-blown financial crisis as its economy is due for wilder swings, market expert says

• China's economy is likely headed for a financial crash, market veteran Ruchir Sharma warned.
• That's because of the property bubble that was fueled by soaring debts, he said in the Financial Times.
• "In this scenario, the next big step for China is a full-blown financial crisis."

As outlooks on the long-term future of the Chinese economy turn increasingly dimmer, a closer look at its near-term prospects offer two potential paths, Ruchir Sharma wrote in the Financial Times.