ICangles Investment Post…

The story of the Chinese economic miracle is well known. Since opening its economy in the 1980’s, China has followed an export led development model to become the world’s factory, leading exporter and second largest economy. The 2008 Olympic opening ceremonies gave China an opportunity to showcase its success to the world, including with a miraculous display of firework footprints marching across the sky. But in China all is not as it first appears. It turned out the firework footprints seen on televisions weren’t really fireworks, but rather CGI special effects. Similarly, a closer inspection of the Chinese economic miracle reveals some financial special effects at work.

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