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  • No Rest for the Chinese Stock Market [View article]
    PAF, given current markets I am a little surprised that you think things are going so well. At any rate I am not a Chinese nespaper. It is not my goal to try to cheer people up. It is my goal to try to understand risks in the financial system, and you would have to be pretty foolish to argue for the bright side of collapsing real estate prices. The fact that collapsing real estate prices might help future buyers may very well be true, but it hardly is good news for existing investors, and it is always terrible news for banks. I would have thought that was sort of obvious.

    By the way your IP numbers obviously haven't been deflated by PPI or you would have had a different view. As for consumer demand, I have always said July and August growth was high but this may because of the Olypmpics. We must wait and see. I suggest, again, that we wait and see.
    Sep 19 07:43 am |Rating: 0 0
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