It's not just the size of the population, but also how young financial markets are in China. For the vast majority of Chinese citizens, any kind of financial pr

It's not just the size of the population, but also how young financial markets are in China. For the vast majority of Chinese citizens, any kind of financial product is new or at most a generation old. They don't have 1930s collapses or Madoff or Enron or 2007 collapse in their cultural DNA to build immunity against scammy speculators. As a result of this, China's markets are overwhelmingly populated by retail investors who are more vulnerable to kind of ICO schemes we're tired of seeing in HN. https://www.ft.com/content/e5af8da0-1fc7-11e5-aa5a-398b2169cf79 https://www.ft.com/content/e5af8da0-1fc7-11e5-aa5a-398b2169c...