Chinese chaos worse than Greece
Tuesday, July 7, 2015 | Tag Cloud Tags: China, News, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs! | Printer Friendly
(Worthy News) – A stock market crash there has seen $3.2 trillion wiped from the value of Chinese shares in just three weeks, triggering an emergency response from the government and warnings of “monstrous” public disorder.
And the effects for Australia could be serious, affecting our key commodity exports and sparking the beginning of a period of recession-like conditions.
“State-owned newspapers have used their strongest language yet, telling people ‘not to lose their minds’ and ‘not to bury themselves in horror and anxiety’. [Our] positive measures will take time to produce results,” writes IG Markets.
“If China does not find support today, the disorder could be monstrous.” [ Source ]
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