China Is Now More Capitalist Than The US: Main Communist Mouthpiece Says Bailouts Are Bad

Given the earlier rumors of PBOC bailing out the funding markets (followed rapidly by their actual denial/explanation of what is going on which is much less supportive than an exuberantly bouncing market implies), it is perhaps ironic that the nation’s government mouthpiece – The People’s Daily – explains that help is not coming:


A bailout of the stock market is not beneficial to the development of a sound capital market, although some analysts are suggesting the China Securities Regulatory Commission and the People’s Bank of China should intervene

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