I know its a story told to death... But whatever articles I have read have either been in complete awe of the Chinese growth story or have been completely cynical... From now on I have decided to write something on this article and the options trading article. Ofcourse I would try to fill up in between with some ideas that strike me from time to time. I may be travelling to Zurich next week so not sure how frequently I would be able to write next week. Anyways before I start this China story from my next article I should tell you what my position is...............
I beleive China is a disaster waiting to happen. I sincerely hope it doesn't happen because an economically vibrant China is good for the entire world as I also believe that the global boom that we are seeing this decade is mainly due to China. However the way they are progressing is similar to over leverage trading. You are the king on every day till the day of reckoning. So in just one day you loose all what you made your entire life. The West is ofcourse crazy for China especially the American fund managers.... Now what can I say for them, people who loose billions of dollars ( for record some of the topmost I-Banks and the famous commercial bank supposedly composed of best talent have lost more than what they have made in a decade)......To be fair even I am awed by Chinese growth but I can't loose the sight of the structural deficiencies in its growth and system making it a disaster waiting to happen. I would try to analyse various aspects of Chinese growth to put the puzzle together..........
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