龍瑞 above notes the strangeness of Ray Dalio encouraging investment in Chinese stocks. We should remember a couple of things - (1) it is a tried and true tactic for government to entice private investors to the market, and then leave them hanging with the losses. Remember the stock market collapse of 2015, when the government pushed people to invest. A cynic might claim that the push allowed senior SOE investors to cash out big time before the inevitable crash. Similar tactics have been beneficial to Chinese investors on individual stocks in the past. Let the foreigners in, then ... caveat emptor. (2) The brokers make money on both ends of the transactions, selling and buying. No tag days for investment brokers. (3) Dealings within Chinese businesses, private or SOE, are opaque. There is a quote from ... someone ... Samuelson? on investing in the next sure thing - to wit, it's a mug's game for a dentist from Scarsdale to think he can beat the guys counting cocoa pods on the docks in Africa ... 'Nuff said.