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Crashing China Stocks as Easy as Flicking a Switch: Opening Line

The trouble with the Chinese stock market, as one of our colleagues observed amid yesterday’s bloodbath, is that it has only two buttons: “ON” and “OFF.”

China’s government decreed this bull market, cutting trading fees, making it cheaper to open new brokerage accounts and expanding quotas for foreign investors. If you were still slow to get the message, it helped by cramming state-owned media with articles in August and September extolling the virtues of investing in stocks.