Greenspan sees dramatic drop in Chinese stocks

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Former U.S. Federal Reserve Chairman Alan Greenspan said on Wednesday he feared a "dramatic contraction" in Chinese stocks but said the global economy may be able to shrug off a drop in asset prices.

"It is clearly unsustainable," he said "There's going to be a dramatic contraction at some point."
The main Shanghai index has nearly tripled in past year and is up 56 percent so far in 2007.

I already mentioned the unsustainable rise and overheating of the Chinese stockmarket and economy here.