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The prevailing mood among China-watchers in 2014 was one of anxiety and skepticism. The year began in the shadow of Chinese assertiveness in the East and South China Seas. Economic concerns quickly took over: by February the property market seemed on the verge of an epic collapse thanks to the previous year’s sharp monetary tightening. At midyear the worry was that an endless
Barron’s Few foreigners know China as intimately as Anne Stevenson-Yang does. She has spent the bulk of her professional life there since first arriving in 1985, working as a journalist, magazine publisher, and software executive, with stints in between... These are just two of many snippets of gallows humor widely shared in the dark days of the Chinese stock market. They have been few in number of late, but their impact has been keenly and widely felt. On May 28, the standard-bearing Shanghai Composite Index lost an astonishing 6.5 percent to fall to 4,838 points—by way of illust...