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China's Baby Steps Bubble
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China's Baby Steps Bubble

Philip Bowring's avatar
Philip Bowring
May 01, 2007
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Asia Sentinel
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China's Baby Steps Bubble
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Baby steps blow bigger bubbles. The Chinese leadership is caught by its own indecision. What it thought was caution is turning out to be complaisance. Fear of the consequences will be not far behind.

For too long the government chanted the mantra of rapid growth and the importance of low interest rates and a dollar-linked currency. Then, reluctantly, it …

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