Tuesday, August 04, 2009

China Stock Market is a Ponzi Scheme

Andy Xie says that the China stock market is a big big ponzi scheme. At the end of he says:
In summary, the market frenzy now won’t last long. The correction may happen in the fourth quarter. There could be another wave of frenzy next year as China can still release more liquidity. When the dollar recovers, possibly in 2012, China’s property and stock market could experience collapses like during the Asian Financial Crisis. mean that it is still safe to go in now?

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