Worthy Christian News » World News » Chinese chaos worse than Greece
Chinese chaos worse than Greece
(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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As of 2012, Greece's total stock market was valued at 45 billion, and this is making all the headlines! China's loses was 70 times the entire value of Greece's stock market value in 2012. Amazing this is not being covered!
Not good George!
We owe them a huge amount of money, if they decided to cash in all their notes, well we must pray and be on watch - blood moons are coming