Saturday, July 11, 2015

China Even Bootlegs American Laws!

Remember all the (often libertarian) China bulls who were telling us about a decade ago that China is more business-friendly than the U.S. Remember hearing them say the Chinese had observed and learned from the mistakes of the fading West, "money goes where it is treated best" and all that? Yeah, about that...

China’s securities regulator took the drastic step of banning shareholders with stakes of more than 5% from selling shares for the next six months in a bid to halt a plunge in stock prices that is starting to roil global financial markets.

It almost reminds me of something...oh right, that time in 2008 when America did the same thing.

I thought vibrant China had learned from calcified America's mistakes and was doing an Opposite George on all things red, white, and blue. Apparently what they learned is how to repeat them.

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