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Anatomy of a Chinese Bubble: A Checklist For Spotting Bubble Tops [View article]
A correction in the range between 25 to 35 percent will be healthy for the Shanghai market in the long run. A bubble is unlikely to occur with the recent measures (plus any future ones, if required) introduced by the state. Major ADR shares currently listed on NYX (such as CHL, LFC, Petrochina...) appear to be trading on not very expensive valuations based on 2008 earnings and therefore the impact on these ADRs will be minimal when the correction takes place in China.