Additionally as Bloomberg report here, strong first day listing demand is back too:
'Seven of the eight Chinese companies that started trading in Shenzhen today were suspended from trading...after share prices exceeded limits set by the city’s stock exchange (of a 44% gain!)'
Two issues I did not mention in yesterday's article was statistical veracity and inequality. Many have doubted some of the published numbers on the Chinese economy and this chart nicely captures some of the discrepancies - depending if you build it from central or local government stories:
A problem? Well I think it is a global problem. Remember those three Q3 GDP revisions in the US a month or so ago?
Inequality has been a big issue globally. I came across this chart looking at international trends in inequality (as measured by the share of national income going to the richest 1% of the population). That's a pretty clear trend over the last generation or so.