so did Enron, Worldcom, Global Crossing... the list goes on. (this is only a statistic. I am not condoning their conduct.) but honestly, how many of you bought MSFT or AAPL because you have READ, analysed, and concurred with the annual report? Most of us only buy/sell on technical signals. USA market is more transparent than the Chinese market... but bear in mind, transparency is a relative word. China is learning. Their securities commission is independent, and is trying its best to learn-on-the-job, and to catch up to the Western standard of fair and open financial market.
A dictated government has advantage of faster pace of processing policy. Premise is that the policy is going the right direction... So far so good, for what Chinese government is doing... isn't it?
A friend bought a condo in Bejing subu for RMB 600000 (=$95000). " 90% the food is not healthy and prepared by ill people "? Are you on the moon, or in Bejing?
I think that the single thing most likely to hurt China economically would be the slowing of US consumer spending. That in turn could lead to downturn in commodity prices.
I don't think we're even near to bubble status on China. This is just a company that is growing at a smoldering rate. Maybe in 10 yrs we can start talking about bubble but this is just the beginning (ie we're in the early 90s, wait until late 90s)
The Secret Behind China's Economy http://www.youtube.com/watch?v=pvhvUJtfVNA video of homes being confiscated and razed minutes later to put up skyscrapers