WSJ does about-face on China market
http://atimes.com/2015/07/wall-street-journal-does-about-face-on-china-market/
WSJ does about-face on China market
Asia Unhedged on July 13, 2015
We know its a bit immodest to pat ourselves on the back for being ahead of the pack, but when the Wall Street Journal totally reverses itself to our way of thinking, we think someone has to mention it.
In the midst of the Chinese stock market rout last week, as the government instituted measures to stop the slide, the Wall Street Journal said, The moves only heightened what is turning into an epidemic of anxiety among Chinese investors and a crisis of confidence in their leaders.
The more the government intervenes, the more scared I am, Li Jun, who runs a fishing and restaurant business in the eastern city of Nanjing, told WSJ.
Then on Monday, after a three-day bounce, we open the Journal to read, Many global investors are hanging on to Chinas stock-market roller coaster.
While Chinese mom-and-pop investors have dumped shares en masse, big institutional investors based in the U.S. have been more sanguine. The reason: Even as China slows, its economic growth continues to outpace the rest of the world.