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Wall Street Keeps Overestimating China's Macro Data

Market Depth

CHAPTER

The Slow Pivots in China's Outlooks

Goldman Sachs analyst recently downgraded China's bank stocks. Goldman put sell ratings on the big state-owned banks like ICBC, who shares then subsequently got crushed by 15%. "What we're talking about is correcting a self-induced over-excitement," he says. 'That's stupidity, ignorance and arrogance'

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