the development has proved and continues to prove it
The first reason is China’s stock market, greenspan evaluation standards and reference or euramerican market undoubtedly. As a long life in the western world, old man greenspan may not know what equity division. Not knowing equity damage of China’s stock market have multiple, therefore he could not understand share-trading reform of China’s mbt shoe stock market how powerful. So, greenspan as with most international investment Banks not understanding China’s economy, more than 20 years of continued high growth of China’s stock market system with inappropriate docking and kill in the market value of form a huge depressions, do not understand Chinese stock market from 1000 points to 5000 points bull market process is just fill the process of value depressions. Because of China’s stock market is experiencing toward the new from the old market of the market shadowfax process, this process is qualitative change in the world market has only, and the great particularity in Chinese stock market old market standards and euramerican market old market to measure and comparison of China’s stock market, there are huge not applicable and does not adapt. In other words, for a system and mechanism are thorough transformation, system potential is unprecedented release and comprehensive market for the new release, it is difficult to find a measure of its normal or not accurate indicator and scientific index, so it’s mbt footwear very difficult to decide whether speculative stock situation, whether foam, and whether the rational analysis and judgment. If, the 1996 “greenspan shock” has been proved to be big mistake, then the five months to greenspan judgment of China’s stock market is likely to be even assertions wrong, Chinese stock market and the development has proved and continues to prove it.
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