We noted recently that Chinese banks seem to be stoking the same sort of fear and awe that Japanese banks did in the 1980s. You also have to wonder if the China stock market isn't setting itself up for a Japanese bourse-like tumble. Which is to say a long-lasting bursting that puts to bed certain myths. Floyd Norris, the esteemed New York Times columnist, notes that China is now the leader of the companies with market valuations of more than $200 billion. It has eight of the 20 most valued, while the U.S. has seven. How much of this represents fundamentals, and how much is speculation? Good question.  

For more:
- here's the column

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Read more on: China l Industrial and Commercial Bank of China