主题：亚洲第二次金融危机将展开 -- parishg

indicates that you did not learn from the 1990s experience back in China. I am sorry to say that you are not a financial industry insider: be patient and be open-minded. It is just your first-year MBA study.

The reality is much more complicated than the ideal world you saw from the MBA textbooks: for example, the so-called efficient stock market hypothesis is already a joke among senior researchers. If you read front-tier researcher's work, people are more and more questioning this hypothesis drawn from the American experience ONLY.

There is semi-free capital flow between China and the world. China's gov. can not fully control it: that's why PBOC senior leaders warned against a sudden QE taper. Chinese are also scared, just as Brazilians are.

BTW, down the road, China has to liberalize its credit market to allow the rigid system adjusts itself: the whole Shanghai Free zone is more related the liberalization of interest rates.