Aswath Damodaran – what a brilliant piece on China and valuation….read on

http://aswathdamodaran.blogspot.in/2015/08/beijing-blunders-bull-in-china-shop.html

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  1. I agree with the above analysis. A (supposedly) Communist government running a (supposedly) Capitalist market is an anachronistic. Without free markets, value discovery becomes a guess work and no true valuation can be arrived at! Price is entirely another matter!

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