Over at Angry Bear—it sounds plausible, doesn’t it? But what do I know…
A friend of mine who does just about all of his business providing a very specific service to selling to companies who do business with China. (And yes, that is as specific as I am willing to be, except to say that right at this moment, the service he provides is extremely tailored toward China.) My friend tells me he believes “China is a bubble” which very much resembles the dot com bubble and the housing bubble. According to him, this is the resemblance – there is no due diligence to speak of on any deal involving China, not from the Chinese and not from the Westerners dealing with them, and all the deals are being done with “other people’s money” and heavily leveraged. …