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I lost a few grand trying to short the Shanghai market back in 2015 when it looked certain they were eating shit. I've become very hesitant about prognosticating since then, but it's gonna come eventually. No other possibility. Just depends how big of a gauze pad Xi can put on the bleeding.
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The tricky thing about China and capitalism is they're only pretending to be capitalists. Evergrande like found their last bond payment in the couch cushions or some shit and everyone was all "lol OK let's keep the merry-go-round spinning." But Xi appears to be more interested in retaining power than escaping the middle income trap so... there will be unwinding I reckon.