Indian Hubris Creates a Mountain of Debt
It may have been a coincidence that the Shanghai stock market tumbled 5 percent on the day that India's Tata group won a $12-billion battle for the Anglo-Dutch steel company Corus. But maybe not. Easy money and reckless purchases are a global phenomenon fuelled by a surfeit of cheap money.
Chances are the neophyte investors in Shanghai stocks will suffer…
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