China's Meddling In Markets Can Hurt Us All

When I think of all the mayhem that is currently Chinese markets, I picture the old Dutch proverb about the boy who sticks his finger in the leaking hole of a dam, only to be besieged by more holes bursting through. In my analogy, the surging water represents the Chinese economy, and the dam represents the central government's mass of constraints built to exercise control over it. Cracks are appearing in the dam, and as authorities grapple with ways to control the leaks, world market volatility ...