Tom Orlik, Columnist

China's Trouble With Bubbles

The lessons from last year's stock crash are easy to discern but hard to implement.

August 3, 2016 at 12:03 AM UTC

Tom Orlik is the chief economist for Bloomberg Economics. He’s the author of “Understanding China’s Economic Indicators,” a guide to China’s economic data. He’s based in Washington, DC, following more than a decade in Beijing.

A stimulus-fueled property boom looks to be ending.
Source: China Photos/Getty Images

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The collapse of China's stock markets a year ago was eye-catching, but in the end, hardly earth-shattering. Despite the pain for millions of retail investors, the fact is that stocks remain a small part of the financial system in China. Their brief, giddy rise and spectacular collapse never really threatened the wider Chinese economy, let alone the global financial system.

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