China has shot itself in the foot by suspending the world's biggest IPO at a time when it wants more foreign investors to park their capital in Shanghai and Hong Kong.
The decision to pull the world's biggest IPO just two days before its estimated $52 billion debut on stock exchanges in Shanghai and Hong Kong looks like madness for any country trying to promote itself as a world-class financial hub.
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Michael Smith is the health editor for The Australian Financial Review. He is based in Sydney. Connect with Michael on Twitter. Email Michael at michael.smith@afr.com
