Chinese stocks are defying gravity in the face of a global Credit Crunch

Amid all the doom, gloom and looming uncertainty in global markets lately - at least one high-profile stock market has seen smooth sailing. The CSI 300 Index of mainland Chinese shares powered through the 5000 mark last week, closing at a new record closing high. And Chinese stocks have already shot up 147% so far this year alone!
The fact that Chinese stocks are defying gravity in the face of a global credit crunch correction doesn't really surprise me.
After all, the mainland markets in Shanghai and Shenzhen are closely controlled from Beijing. It's a game of chance where the house makes all the rules, and the government strictly regulates activity, or at least attempts to....