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Beijing, We Have A [Corruption, Manipulation, Fraud] Problem
Wednesday, December 10, 2014 3:37
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from ZeroHedge:
The Chinese stock market hit a four year high today at 3,020. This is up 53% since the middle of 2013 low and up 48% in the last six months. I guess this must mean the Chinese economy is operating on all cylinders. If you think so, you’d be wrong. As Anne Stevenson-Yang – who has lived there since 1985, told Barron’s, the entire Chinese economic miracle is a fraud. The reforms are false. The leaders are corrupt and as evil as ever. The entire edifice is built upon a Himalayan mountain of bad debt. This lady is about as blunt as you can get about Chinese fraud, lies, mal-investment, and data manipulation.
