More on Goldman's downgrade of Yingli (YGE -5.3%): Analyst Amy Song declares the ugly down-cycle faced by Yingli and other Chinese solar names to be the result of a "vicious circle" of government-supported expansion, international dumping, foreign tariffs, domestic dumping, and further expansion. Song doesn't see crashing polysilicon prices bottoming until late 2012/early 2013, and expects module prices to remain pressured in 2013. (LDK Solar)
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