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Thread: China's Gini coefficient is higher than all developed countries

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[quote=MARRIE,271997]Paul, Greenspan commented on overheated cn stock mkt last year - tripled last year,  and  recent sharp slip down just wipes off part of margin that they gained last year.

bloomberg news:

Greenspan's China-Stock `Contraction' May Not Spread (Update6)

By Simon Kennedy and Scott Lanman

May 30 (Bloomberg) -- Even if former Federal Reserve Chairman Alan Greenspan is right, the ``dramatic contraction'' he predicts for Chinese stocks isn't likely to infect the international economy.

That's the conclusion of a number of international economists and former government officials around the globe. They say China's economy shows little correlation with its stock market, foreigners are mostly excluded from owning shares and Chinese participation is limited to less than 10 percent of the population, reducing the effect of a bursting bubble.

``This is a relatively small casino,'' said Edwin Truman, a former director of the Federal Reserve's international finance division and now a senior fellow at the Peterson Institute for International Economics in Washington. ``Even the implications for the Chinese economy should be minor.''

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