The writer is founding partner of Gavekal Dragonomics
Chinese equity markets have had a wild ride. Major indices surged by more than 30 per cent in the two weeks following Beijing’s September 24 economic stimulus announcement. They then fell back on fears that the stimulus might fall short.
Most likely, the markets will regain momentum once the Ministry of Finance reveals details of new fiscal spending at a press briefing on Saturday. Which sentiment is closer to the truth: euphoria or despair?
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