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China's rigged markets could fall much further, much faster
Good thing the West's markets aren't rigged -- or that they seldom suffer critical journalism like this.
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China's Rigged Markets Could Fall Much Further, Much Faster
By Craig Stephen
MarketWatch.com, New York
Monday, January 4, 2015
HONG KONG -- Those fearing that China is the big risk in the year ahead for global markets hope that the first trading day of 2016 does not set the tone for the rest of the year.
Between a 7-percent fall in shares that triggered new circuit breakers on the Shanghai and Shenzhen stock exchanges and accelerated weakness in the yuan, there is ample fodder for China bears.
The question being posed anew is whether 2016 will be the year Beijing finally throws in the towel on its attempts to coerce multiple asset markets upward while its economy continues to sink in a sea of debt.
While yet more weak industrial activity numbers from the Caixin China December PMI got the new year off to a flat start, the bigger concern is whether the leadership still has the will or the ability to continue holding up stock prices as its confronts ever more painful policy choices. ...
... For the remainder of the report:
http://www.marketwatch.com/story/chinas-rigged-markets-could-fall-much-f...
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