I think there's an important aspect of China is that the gov just has so many tools to sway the economy, and status quo will always be tolerated and supported as long as there are enough people are benefitting from it.
People has been worrying about the housing bouble for a decade now, but in China, the gov owns all city land, can dictate land price and supply，control condo price，it's like the perfect tool, it keeps enough people happy since the price is always rising at major cities, it keeps people loyal cause your fortune are on it, and it absords most of the money non-stop printed to prop up the Chinese economy.
“For five weeks, the world has had no idea where Lu Guang is.”
It's very vague and to me it doesn't inspire any confidence at all.
SEC statement: https://www.sec.gov/news/public-statement/statement-vital-ro...
There were all those things like Glisan's scheme to sell Enron assets to Osprey- all the credit rating agencies rated Osprey, and all the major institutional banks invested. I don't remember the names of the other shell company refinance schemes, but there were multiple.
Then there was the bragging in financial press how Enron could raise money using innovative financial vehicles that didn't issue stock or take debt in a way that had to be reported to the street.
Thats bad enough but the leasing shell game that was a part of that couldn't have worked without leasing the tankers to the banks.
Anyway, I think the majority of people are honest and hard working, but whole industries can definitely be corrupt and depraved.
American systems are just full of loopholes for Chinese, and Chinese will exploit every one of it for gains, and it's seen as deserved and normal in China, cos they are not taking from you, it's from "the system/pubilc/country", so it's non of your business and not yours to judge, if your are jealous then take it yourself if you are abled too.
I'm too old to take chances with my money anymore.
There was another trend between 2015 and 2017 where it also was tight trading.
This was actually the reason why I bought stock was because I could buy when it went low, sell when it went up and turn around and buy again and again on the lows. Rinse and repeat this cycle. It worked pretty well until now.
I was buying and selling pretty quickly when the stock was doing good. (I back tested this before buying). Then the stock lost value to where I didn't want to sell anymore. Now it is down a lot. I may dump my position and now short the stock as I think after this news it is going to tank tomorrow morning.
The government of Puerto Rico... has changed the measured distance of many roads on the island at least 2 times in the last ten years.
I ask as someone who has to sometimes locate addresses on maps of Puerto Rico, and occasionally has problems doing it.