Betting on China has been all about moral hazard this year as investors hope that government magic will transform bad economic news into good. In the spring, a mini-stimulus improved sentiment towards the country, and increased lending saw the economy and shares rebound.
今年押注中國市場全都與道德危機有關，投資者期待政府魔法將讓經濟上的壞訊息轉變爲好訊息。今年春天，一份微刺激方案改善了投資者對中國市場的情緒，增加放貸促使中國經濟和股市反彈。
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