Everyone loves the apocalypse. The Chinese apocalypse — aka the “hard landing” — has been going on now for, what, a decade? Latest on the list of China haters is the debt bomb. This is going to kill us all so run for your lives.
And then turn off CNBC and Fox Business News and pay attention to Matthews Asia and fund managers who actually have real money at stake. For them, they have to understand what is going on in the Chinese securities market. It’s not a dog and pony show. This is reality, which is a lot different from perceived reality. In fact, China’s debt bomb is more like a bottle rocket…