It occurred to me about a week ago that the global finance industry’s relationship with the China Story is a practical example of almost every trend discussed to date in this blog. The way to convey this was elusive but hopefully I’ve McGyvered up a structure this morning.
A few of things to keep in mind off the top. One, consider the economic outlook for China as “in dispute” or “inconclusive” for the purposes of this post. My personal skepticism will become evident, but this is not a result of a personal dissection of macroeconomic factors underpinning the bull and bear cases. Also keep in mind that I am alleging no conspiracy on behalf of the industry. I am assuming sincerity behind all views. Third, a lot of the content below compares China-related sell side projections to those during the technology bubble and, having discussed the analytical limitations of this personal tendency in the previous post “Investor Anthropology”, I will ask you to keep this, my personal potential intellectual blind spot, in mind also.
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