The biggest Chinese web company Alibaba is due to list on the Hong Kong stockmarket at much higher valuation than investors paid for google when it came public.

It is absolutely pandemonium over here in Hong Kong at the moment. The stock market went up by 40% within 2 month and everybody has unadulturated greed in their eyes, including myself! Everybody is talking about stocks, stocks, and stocks everywhere during anytime of the day!

http://www.iht.com/articles/2007/10/...wbmarket20.php


China now has the most valuable companies in the world and most of the companies you would not have heard of e.g.

PetroChina, second most valuable company in the World after Exon Mobile
China Mobile, third most valuable and the most valuable telecommunications company in the world
ICBC - 4th most valuable and the most valuable bank in the world
Air China - most valuable airline in the world.

At this rate, it is quite safe to bet that Alibaba will be more valubale than Google within a year after its IPO to become the most valubale Internet company in the world. The Chinese really think they will dominate the world business within a few years.

Of course, it is one of the largest bubbles ever seen, like the Japanese stock and propery bubble of the eighties. Nobody knows when it will burst but when it does, it will end in utter misery for millions with effects felt worldwide. I just cannot imagine the consequences....