Change of Culture Gives Chinese a Taste for People’s Capitalism – Jonathan Watts

From Guardian Unlimited:

Even before the doors of the securities trading hall opened at 9am, Yang Jingshan was queuing up to part with a huge chunk of his life savings and much of the ideological baggage of his youth.

On the advice of his daughter, the 50-year-old Beijing shop manager joined the morning surge of speculators on a mission to buy his first shares. Waving his registration paper amid a jostling crowd at the CITIC Securities centre, Yang opened an individual trading account, on which he plans to stake 100,000 yuan (¬£6,600)….[Full Text]

– Read also previous post The people’s republic in the grip of popular capitalism by The Economist via CDT.

May 15, 2007 12:19 AM
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