Bardonomics

Image: Washington Post   Up, up, and up, with not a glance below. In just 12 months, the frenzied Chinese stock market gained a staggering $6.5 trillion in value. Many sold their homes, quit their jobs, and took loans in a manic effort to join the invincible bull run. Less than 12 weeks since, trillions of dollars in stock market value has evaporated in a precipitous slide that is spooking investors around the globe.  Following close to half a decade in the doldrums, the Chinese stock market took off spectacularly in the summer of 2014. Shares were being traded higher and higher with unrelenting pace. Nascent companies with paltry profits staged wildly successful equity offerings. One tech company, Beijing Baofeng Technology, saw its shares rise 17-fold in just 26 trading days.  Worryingly, the rally showed no signs of slowing even as the economy progressed sluggishly. With the steep ascent looking excessive, the government should have made an attempt to handle the situ