The problem is that the longer the Chinese government steps in to absolve, tweak or undermine the market...the worse the market gets over time. It's like pushin

The problem is that the longer the Chinese government steps in to absolve, tweak or undermine the market...the worse the market gets over time. It's like pushing on a string. Unfortunately recessions are necessary, asset prices sometimes need to come down because there is capital market misallocation. Unfortunately China is very hamfisted here and the longer the dance goes on the worse the potential outcome becomes. The Fed and western policies get a lot of flak for "too big to fail" but in the end, they still let them fail...just very softly and to prevent systemic shock. That's not the Chinese model at all.