#4. China's Equity Bubble?
Nov. 5: PetroChina becomes the world's first trillion-dollar company, tripling its share price on the first day it was traded on the Shanghai stock market. China now has five of the world's 10 most valuable companies. But analysts fear that the Chinese stock market frenzy is dangerous, and former Federal Reserve Chairman Alan Greenspan warned in May that it was due for a "dramatic correction." Since his warning, its value has increased by more than 35%, although it remains volatile.