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Whenever I walk into a hole-in-the-wall shop here in China on a weekday, the PC screens are alight with share trading graphs. As they said 10 years ago in the U
by vorg 16y ago
Whenever I walk into a hole-in-the-wall shop here in China on a weekday, the PC screens are alight with share trading graphs. As they said 10 years ago in the US, "when the taxi drivers are giving share tips, it's time to get out." Both the Chinese housing and stock markets could blow at anytime, and the Chinese don't have the institutional memory to deal with it.
- dageshi 16y agoAnd ironically this is around the time of the "new leader" coming to the fore. Since the last two were preordained by Deng Xiaoping and this one won't be I expect they will try very hard to paper over any cracks in order to maintain an orderly succession. I do not like that particular mix of politics/economics all coming together in one time period.