Word: shanghais
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...herself astray. She doesn’t notice that Asian designer labels and fashion in Asia are separate entities. At Project East, we showed designers from New York Fashion Week, who had Asian backgrounds. Perhaps Lin thought that these designers’ Asian backgrounds meant that they show in Shanghai, Tokyo, or Seoul and would thus affect consumption in such areas...
...Such actions are blows to even the most optimistic. So is the growing realization in Shanghai trading rooms that China is part of a global economy that could be in for a rough patch, due to the subprime-credit crisis and the possibility of a recession in the U.S. A month ago, a relatively sophisticated investor such as Tian brushed aside any suggestion that U.S. markets, in turmoil since August, could effect equity values in China. "We're a separate market, a separate economy," Tian said on Nov. 5. Today, he concedes that the connection might be tighter than...
...bank deposits don't even keep up with the country's rising inflation rate. People were still pouring into the market a few months ago. In August, about 4 million new trading accounts were opened, but the numbers have been falling since, according to stock exchange officials in Shanghai...
...rush for the exits could pose problems for China's economy. According to a recent study by Merrill Lynch, China's investor class - an estimated 150 million people - has sunk 22% of its capital into the stock market, compared with 8% two years ago. Shanghai-based economist Andy Xie calculates that if the stock market drops by half, urban households will lose about 20% of their overall net worth, putting a dent in consumer spending. Overall, economists figure that a 50% decline in equity values might lop 1-1.5% off China's double-digit GDP-growth rate...
...course, it's impossible to predict where China stocks are headed. The Shanghai index quickly rebounded from a scary one-day plunge of nearly 9% on Feb. 27. But recently, the warnings that shares are overvalued have become difficult even for inexperienced investors, accustomed to quick scores and relentlessly rising share prices, to ignore. Last month, a top official at the China Securities Regulatory Commission, Tu Guangshao, said investors needed to "educate themselves" about market risks. "Some sort of correction was inevitable, and it's probably here," says economist Xie. Although many investors believed the government would do nothing...