Ignoring lack of transparency in China is asking for trouble
China could become the next subprime. This is the view of a small but growing number of investors and analysts who warn of the perils of blindly trusting in the Chinese economic miracle, even though hard information is very often wanting or unreliable.
Anyone who has worked in financial markets for any length of time is familiar with those rueful conversations and private thoughts that follow a crisis: “how did I/we/you/they end up thinking it was going to be different this time round?”
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