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Why Chasing The China Rally Could Cost You Everything
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The biggest story of the week has been the moves in China. When the Chinese authorities unveiled the second half of their stimulus plan, it caused a frenzy of activity for their markets, as well as for several other markets in that part of the world. China's CSI 300 index has rallied almost 16% last week, which helped many of its ADR stocks trading on US exchanges skyrocket higher.
On a longer-term basis, I agree with those who are skeptical about whether these stimulus programs will do a lot to help the structural problems that have developed in China’s economy, especially in their real estate sector. However, on an intermediate-term basis, we know how much massive liquidity injections can help markets for many, many months.
However, this rally won't last nearly as long.
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