There is no Chinese stock “market”

Friday, 17 July 2015

The AFR’s talented John Kehoe has a take on the China stock market debate today comparing US and Australian views:

Paul Singer, the founder of $US25 billion hedge fund firm Elliott Management, said the “craziness” of the debt-fuelled Shanghai stock market boom, before the recent correction, had similarities to the late 1920s financial market bubble in the US ahead of the Great Depression.

He goes on with similar quotes from Jeff Gundlach and Bill Ackman and contrasts that with some locals:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.