Chinese puzzle

HIt seems no local media has had any feedback from Chinese firms in Reading about the stock market crash.

Even if they have approached any, it’s unlikely they would get a positive response. The ominous looming disaster is one of the most unknown quantities the local economy has had to face for decades.

Reading’s multitude of corporates includes huge numbers from overseas so the world economy is directly linked locally. Yet what is most alarming is that there seems to be no expert who can make a confident prediction.

Is an almighty crash coming or is this a blip? It shouldn’t be that difficult if these people really are experts.

But history indicates they know very little outside their own bubbles. During the last crisis I spoke to one business leader who said he couldn’t say when the 2007 crash would be over as we ‘never saw it coming’. Shouldn’t someone be on the lookout?

Yet going back to the start of the century, no end of speakers at conferences would tell you that we must be wary of the emerging markets of China, India and Brazil. Now we know that all that time China’s published figures were wholly unreliable. India and Brazil seem to be forgotten about.

And the biggest threat of all that just about everyone has their head in the sand about, is the £1.5 trillion debt the country is in.

We might not know if the crash is round the corner or years away. All we can be sure about is that there will be one.

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About Alan Bunce

Freelance journalist Former Community Editor with the Reading Post. Former Business Editor with the Reading Chronicle.
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