China’s war on financial reality

Hu xijinis best known for his calls to prepare for war with America. But recently the 63-year-old nationalist media personality has been exhorting his countrymen to invest in Chinese stocks. On July 7th he told 25m followers on Weibo, a social-media site, that he had opened a trading account with 100,000 yuan ($13,900). Stop buying homes, he pleaded, and start piling into the stockmarket.Chinese social media is full of positive takes on grim market news. Commentary such as this is becoming the main message netizens receive about the market, regardless of how it performs. As China’s economic recovery falters, authorities are cracking down on divergent or negative views. For some analysts at Western banks, who are tasked with keeping global clients informed, the backlash is proving painful.