Thursday, March 08, 2007

Amen, sister, II: Bloomberg's Baum has a few more apt words on China


Bloomberg.com: Opinion

I concur: "China's stock exchange has more in common with a casino than a marketplace." More, "China's market lacks transparency and is fueled by rumor and speculation."

A caveat: (she writes:) "Chinese investors have gone back to doing whatever it is they do, which is buy stocks. With increased distance from the events of last week, U.S. investors are starting to look at their own house of cards, not to the roulette wheel that is China's market." Now, I would not refer to the US market as a "house of cards". It isn't. A sad blemish on an otherwise excellent article.

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