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Despite pessimism, China's bourse bailout might work

Whether China's effort at stabilising the market succeeds goes beyond just academic interest to global investors.

CONFLICTING SIGNALS: In theory, economic damage from even a drastic market drop should be contained - Chinese stocks are still much higher than a year ago. But the Chinese economy was faltering even before its markets began plunging last month.

New York

OUTSIDE China, the consensus among economists is overwhelming: the country's efforts to prop up its plunging stock markets are doomed, the financial equivalent of King Canute trying to halt the incoming tide. But this being China, the conventional wisdom may turn out to be wrong...