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I believe the US is starting to become more socialist and the Chicoms more free market.

Perhaps you missed the news that the Chinese government has commanded government-controlled Huijin Investment authority to directly buy shares of banks.

That's direct stock manipulation, with little to do with the underlying condition of the banks. At a minimum, the US Treasury action was targeted at the source of the problem (quarantining real estate debt on the world's largest balance sheet). In China, they're just buying equities.

I wouldn't be too sanguine about China (and believe it or not, we're not) until its market allows short selling at all, and until they make moves to clean out their banking sector, which is a debacle.

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