Source: China Photos/Getty Images

China's Trouble With Bubbles

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

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.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.