Dollars and Jens
Thursday, December 18, 2003
 
China stocks
I keep meaning to do a China post, and I guess the IPO of the China Life Insurance Company seems a good excuse to do it now; there seems to be quite a frenzy recently, one evoking late 1999, for China stocks, and I'm of the inclination that it probably can't go on forever. (Also, the sun may come up tomorrow. But I digress.) The Chinese government is more grown up than those of a lot of developing countries, but it's still communist, and we've never seen how it might react to the attempt to pull out capital, or even to repatriate some profits from capital already invested. I could imagine an incident jumping from the purely economic to the international political in a real hurry.


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