From Scott Kennedy, a deputy director at the Center for Strategic and International Studies, a Washington think tank:
Vigorous debate among economists and public confidence in this conversation is critical if China is to successfully navigate the choppy economic waters. If the party and government only want to hear good news, then they’d be better off hearing nothing because the value of the words would be less than zero.
The Wall Street Journal, “China Warns Its Bearish Analysts to Toe the Line,” 5/4/16
Mr. Kennedy can say this because he’s in Washington. Analysts in China, and probably Hong Kong, are receiving warnings from the government when they publish negative analyses or forecasts. On Wall Street, the government doesn’t censor bearish opinions. Wall Street does that all by itself.
