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China's struggling middle class deserves better

They do not have the option to invest globally, and are therefore captive to unstable domestic property and stock markets.

The Chinese stock market is immature by Western standards and suffers from a lack of policy clarity, while uncertainty about property rights and market instability has sent Chinese housing investors scurrying to foreign markets.

CHINESE stock markets are reeling from instability. "Circuit breakers" halted trading activity after steep losses, angering investors and embarrassing government regulators. Jilted traders played cards in public trading halls while anxiety swirled in global markets. In a country where the two...