How Do You Say Laissez-Faire in Chinese?
Beijing Is Trying to Control the Stock Market, But It Only Makes Investors Even Jumpier
China’s Communist leaders are struggling to embrace one of the pesky truths of the capitalist system they have adopted (and adapted) with such success: Markets don’t just go up; sometimes they go down. Sometimes, like this past week, they go down hard and fast. The Communist Party isn’t used to being told “you can’t control this.” And party leaders aren’t convinced that’s true, which has made the situation far worse. Financial markets only work if investors feel free to buy and sell when they want, and believe there will be …
