And government intervention to block the exits is inadequate. On the contrary, until China’s stock market opens up and its institutional foundation becomes predictable, volatility will be its only guiding rule.
结果我们都看到了——小规模甩卖可以轻易演变为崩溃。而政府干预堵住出口并不恰当。相反，在开放中国股市、使其制度基础变得容易预测之前，波动都将是中国股市唯一的指导规则。