Monday, June 28, 2010

China housing. Verdict: unclear.

China may have missed Aristotle, Smith and Jefferson but it has not escaped from Louis Vuitton and the whole phalanx of global consumer brands.

The rest is here. Definitely worth a read.

My take on China is that while it is unclear, the downside risk is higher than the upside. If you have to cover something up, it's most likely rotting inside.