Wednesday   1 July 2015  / Hour 1, Block A: Fraser Howie, co-author, Red Capitalism, in re: Chinese economy is at close to 0%  - it's deteriorated and the new PMI for June confirms that mfrg is contacting.  Shanghai & Shenzen markets:  detached from others, a sort of casino  - but the last week has been crazy.  Official number is 7% growth on an $11 trillion economy, but everywhere you look demand is falling. Tremendous bubble from govt support. When the mkt rises 3%/day for a month, you know a nasty downturn is coming.  These markets can fall 5% in an hour. First shares issued in the late Seventies; nature is still highly speculative because the govt controls and intervenes [q.v.; listen to podcast] in the mkts.   . . . The last thing the govt should  be doing is trying to inflate another bubble.  There's no real good investment out there right now.