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The problem with these laissez-faire systems is that there is no regulation. Wenzhou is known for speculating a lot in housing and real estate, which has pushed
by stupandaus 15y ago
The problem with these laissez-faire systems is that there is no regulation. Wenzhou is known for speculating a lot in housing and real estate, which has pushed development of the Chinese property bubble.
- JVirissimo 15y ago"Regulation" causes investment strategies to be more homogeneous, which often means one large bubble instead of lots of small ones. It is far from obvious that this is a better situation to be in.