China’s markets are shaking off their casino reputation
Can foreign firms actually win?
IN A WORLD where internet memes can explain market swings, China is second to none. Early in March, with mainland equities down by 15% in two weeks—their steepest fall in years—a video circulated on Weibo, a microblogging site, of a sheep stuck in a fence on a hill and a hiker climbing up to free it. The description of the video, in its meme incarnation, was “the national team comes to rescue me”. The national team is shorthand for big state firms that are believed to stabilise the market by buying shares when they plunge.
This article appeared in the Finance & economics section of the print edition under the headline “Over the great wall”
Finance & economics March 20th 2021
- China’s markets are shaking off their casino reputation
- America’s banks have too much cash
- Non-fungible tokens are useful, innovative—and frothy
- Efforts to modernise economics teaching are gathering steam
- Italy is central to the bull case for euro-zone stockmarkets
- Why two former central bankers are talking about trust
From the March 20th 2021 edition
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