Those PE&#x27;s made sense (to some&#x2F;most) when the economy was growing 8-9% and revenue was following that growth, but now that it is down to ~3% with revenue following (or shrinking for a lot of the larger companies) those prices really need to come down and might even be discounted to reflect regulatory risk.<p>The hedge funds who saw this coming are doing very well at the moment [0] [1]<p>[0] <a href="http:&#x2F;&#x2F;www.barrons.com&#x2F;articles&#x2F;hedge-fund-posts-strong-gains-by-shorting-china-1440825847" rel="nofollow">http:&#x2F;&#x2F;www.barrons.com&#x2F;articles&#x2F;hedge-fund-posts-strong-gain...</a><p>[1] <a href="http:&#x2F;&#x2F;www.bloomberg.com&#x2F;news&#x2F;articles&#x2F;2015-11-17&#x2F;hedge-fund-gaining-138-says-china-short-targets-easier-to-spot" rel="nofollow">http:&#x2F;&#x2F;www.bloomberg.com&#x2F;news&#x2F;articles&#x2F;2015-11-17&#x2F;hedge-fund...</a>