Jakobsen: The Chinese bubble that just won’t burst

Since its peak on June 12th, the Chinese stock market has fallen more than 22%. It closed up on Tuesday and then down by almost 5% on Wednesday, a proper rollercoaster ride. However the market is up 100% over the year and so the bubble may have shrunk, but it’s not bursting. China’s central bank is adding bouyancy with easing polices, including rate cuts. Speaking from Shanghai, Saxo Bank’s Chief Economist Steen Jakobsen notes that the mood there seems much more sombre compared with his previous