>> The lack of understanding of such nuances is one of the things that turns investors into either bullish or bearish zealots with respect to China
That's OUR culture, trying to simplify everything into something completely opposite because it then becomes easier choices for those involved. This culture shows up in all bull vs bear argument in investment everywhere, everything is either absolutely great or completely sucks, not as much intelligent risk/benefit analysis.
When it comes to China and the analysis of its financial system, personally I have come to believe Michael Pettis. He has been teaching at Peking U for a few yrs. You can check out his creds on the web and his blog. He seems to me most knowledgeable about the problems China is facing.
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