Friday, March 27, 2015

Some Friday news, mostly China

Here's some news, mostly via Sinocism, which parenthetically is the only news source you should follow for China:

Brett Steenbarger - courage is the key to trading success. Basically, you make more money buying when $VIX is high and can't make a cent buying when $VIX is low. Um, in case you didn't know that.

NY Times - China's opinion of Lee Kuan Yew. Seems like a good background piece on Chinese leadership. For example:
Mr. Lee and his government came to offer successive Chinese leaders an idealized example, much visited and studied, of how the Communist Party could absorb market changes and exposure to the outside world without succumbing to public discontent and rampant corruption.

“What they’re looking for is ideological reassurance that they’re not falling into what we call the ‘modernization trap,’ that by advancing economically they’re not necessarily creating the basis of their own collapse,” Professor Thompson, who is the director of the Southeast Asia Research Center at the City University of Hong Kong, said in a telephone interview. The Singapore experience came to mean even more to Chinese admirers as other authoritarian Asian governments gave way to electoral democracy and fractious party competition.

“As political change occurred in South Korea and Taiwan,” Professor Thompson said, “increasingly it became only Singapore that combined for the Chinese leadership a very interesting model of effective economic governance, rapid growth, of state involvement with meritocratic rule, on the one hand, and, on the other hand, strict limits on political participation and democracy.”
Because Chinese leadership isn't stupid.

Qz, the middle Persian word for a joke which destroys the flow of a comedy programme - the Chinese slowdown is here for real this time. Er mah gerd! Chinese growth slowed to 6.8%? Sell! Sell!

FT Alphaville - on Chinese market exceptionalism. The basic idea is that the Chinese A-shares market is in a disastrous bubble waiting to burst. Oh, and that the Chinese political leadership are incompetent fools, which is a bit presumptuous of Keohane. I mean, it's not as if he's successfully leading a country of 1.3 billion people.

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