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Will China Meddling Save Chinese Markets?
That's the problem with free markets: when they are making everyone money, they're the best thing since electronic trading. When they are going into the toilet, everyone collectively curses, assigns blame, and jumps out the nearest window--Unless you happen to be in a pseudo-free market, like China.
The Chinese markets are in turmoil right now, clocking a 40% plus loss since last October--and we think we have it bad. For those with money in FXP, the ultrashort China ETF, it's been a money-maker. However, there have been some bumps in the road. Since last October, FXP has climbed upwards of $120 before correcting back to below $60. FXP is now in the mid 80's because of the latest market shock waves, and it doesn't look pretty for the Chinese markets.
Or does it?
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