The Shanghai index is down about 8.99% compared with the SPX down around 184 bps, Nikkei down 184 bps and the Euro Stoxx down 791 bps YTD. The major business news magazines have all starting picking up the story of a Chinese real estate being "1,000 Dubai's", yet the impact on the overall Chinese financial market still seems muted. The market is focused on Greece yet this bubble may be much larger.
Can investors hold two crisis scenarios in their mind at the same time?
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