One does not become an international financial place in a single day. Shanghai is now becoming aware of it. Chinese leaders, facing the collapse of financial markets seem to have trouble finding the right attitude as they are used to be always in control of the situation. But markets do not work like that. However, the way international media rejoice themselves while reporting the fall of the stock exchanges in Shanghai and Shenzhen and implying against all odds, that the economic and political consequences would weaken the country, is suspect.
(Almost) nobody predicted the Chinese “Thirty Glorious”. Whenever the country ...