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Shanghai falls 3% - its biggest decline in 14 months - following the selloff in the West and...

Shanghai falls 3% - its biggest decline in 14 months - following the selloff in the West and tighter policy coming out of its own government as well. Following a State Council meeting headed by Premier Wen, Beijing told authorities to "decisively" curb real estate speculation. FXI -0.9% premarket.
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Comments (2)
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    "Following a State Council meeting headed by Premier Wen, Beijing told authorities to 'decisively' curb real estate speculation."

     

    This ain't Greenspan's irrational exuberance. These folks know how to enforce an edict. Now I know why Krugman loves this style of "capitalism."

     

    "It takes a few bullets to make the bullet trains run on time."
    -- Yogi Mussolini
    21 Feb 2013, 07:37 AM Reply Like
  • vallies
    , contributor
    Comments (351) | Send Message
     
    They are trying to keep the hot money from making homes unaffordable for those in the service sector. Still watching what they are doing with the rails and pollution. Will add more if I can get it down into the 22.'s
    21 Feb 2013, 10:31 AM Reply Like
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