Go, go, go, Godzilla; the Chinese stock market version

And now, another edition of "Mindblowing economic news from China"

Published May 9, 2007 11:20PM (EDT)

Remember that little Chinese stock market meltdown in February that was held partially responsible for a market burp felt all around the world?

That's ancient history. The Financial Times is reporting that on Wednesday, the value of shares traded on China's two stock exchanges, in Shanghai and Shenzhen, was greater than the shares traded on the stock markets of Japan, Australia, Hong Kong, Thailand, Singapore, Malaysia, Korea, India, Taiwan, Indonesia, New Zealand and Vietnam... combined. Eat your heart out, all the rest of Asia!

300,000 new stock market trading accounts are being created in China every day, says Isaac Meng, an analyst at BNP Paribas, according to the FT.

That hardly seems sustainable, does it?

By Andrew Leonard

Andrew Leonard is a staff writer at Salon. On Twitter, @koxinga21.

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Asia China Globalization How The World Works Stock Market