Is China turning Japanese?

Investors have been “a bit sniffy” about domestic Chinese shares for years now, says Patrick Hosking in The Times. Shares traded in Shanghai and Shenzhen,  known as A-shares, have a reputation for “patchy liquidity”, dodgy corporate governance and potential interference by a capricious state. But things are about to change. US index provider MSCI has decided to include some A-shares in its emerging-market index (see box below). So soon you could be invested in the likes of Gree, the market leader in air conditioning, or windscreen manufacturer Fuyao Glass.

But as this market [...]