China Meltdown Crushes World Economy
A slump in Chinese shares has prompted stock markets across Asia, Europe and the US to fall sharply. Why is this so significant?
A slump in Chinese shares has prompted stock markets across Asia, Europe and the US to fall sharply. Why is this so significant?
With China in the midst of a foreign exchange and currency crisis, investors around the world are hitting the “sell” button in a scramble for cash liquidity.
China welcomed the New Year with a 7 percent stock market crash that was so intense that government authorities suspended trading across the nation. Markets around the world plunged, with Asia and Europe down -3 percent, U.S. markets down 1.7
Credit Suisse claims that China’s middle class is now the biggest in the world, growing much faster than America’s, but the reason for this situation is less obvious than one would think.
China’s stock market suffered an 8.48% crash on Monday that humiliated the country’s leadership and will almost certainly cause a major Communist Party crisis.
Despite authorities suspending trading in over 50 percent of domestic stocks, banning large holders from selling, funding state-owned financial institutions’ purchases, and arresting short-sellers, China’s CSI 300 Index crashed in the morning Thursday, before eking out a 2 percent gain by midday.