Coop I have to admit that I agree with you about China. How can we argue against a country with 1.3 BILLION people? Talk about emerging market.
Having said that I think you overstate the argument alittle. Alot of China prosperity is in exports to USA and the west. As Europes bubble bursts, exports will fall again and China will take another hit. Basically they played the yuan to the end game and will eventually have to let it rise to control inflation. When they do, it wont be so much cheaper than every where else in the world and the mass migration will SLOW, not stop. Alot of companies moved to China also to get in the emerging game. Some will win, some will lose, and somewhere in between growth will slow.
Also for the market, China was replaying USA cerca 1999. “Professional” investers were leaving their manufacturing and resturant jobs to spend all day day trading and drinking tea to their new $$$. And we think we learn from our mistakes.
