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I don't think that is how bubble or market in general works. Last year prior to Chinese government's ban of bitcoin exchanges supposedly 90% of bitcoin trades w
by fspeech 8y ago
I don't think that is how bubble or market in general works. Last year prior to Chinese government's ban of bitcoin exchanges supposedly 90% of bitcoin trades were in China. Yet after the ban and a brief dive in price, bitcoin price continued to soar until early this year.
Anyhow large Chinese techs are all listed in New York or Hongkong. Most other large Chinese companies are dual listed on the mainland and Hongkong.
- seanmcdirmid 8y agoNot all large Chinese techs are even listed, let alone abroad. Huawei being a big one.
- fspeech 8y agoRight I forgot Huawei, which only adds to the evidence that stock market isn't the only mechanism for building capital.
- seanmcdirmid 8y agoWhy...yes, rumor has it there is always the PLA :).
- simonh 8y agoYou are quite right, the Chinese stock market is relatively small compared to the size of the economy, which is why it’s wild swings and their cack handed managment of it has done limited damage. The point is that just having enormous powers of executive action is no guarantee that action is going to be effective or even competently executed. Their mismanagement of the markets was just a case in point. Eventually the Chinese government is going to face a real, full bore economic crisis. Hopefully that’s a long way off and they will learn many lessons before then.