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OPINION
China's great crash: Signs of trouble?
The stock market crash could mean an economic downturn in the near future.
21 Jul 2015 10:03 GMT | Business & Economy, Asia, China, Xi Jinping, Li Keqiang
For years, leading experts have been warning about an impending structural downturn in China's economy, a prospect that looks highly likely as the Asian powerhouse runs out of export markets, cheap labour, and "ghost cities" to build.
But few foresaw the dramatic crash in China's burgeoning stock markets, which arguably has foreshadowed other major international developments such as the Iranian nuclear negotiations as well as the Greek bailout drama.
In the span of a few weeks, China's stock markets have lost a staggering $3.4 trillion, an amount that is larger than the economy of most nations. The Shanghai index has lost 32 percent of its value since mid-June.
ABOUT THE AUTHOR
Richard Javad Heydarian is a specialist in Asian geopolitical/economic affairs.
OPINION
China's great crash: Signs of trouble?
The stock market crash could mean an economic downturn in the near future.
21 Jul 2015 10:03 GMT | Business & Economy, Asia, China, Xi Jinping, Li Keqiang
For years, leading experts have been warning about an impending structural downturn in China's economy, a prospect that looks highly likely as the Asian powerhouse runs out of export markets, cheap labour, and "ghost cities" to build.
But few foresaw the dramatic crash in China's burgeoning stock markets, which arguably has foreshadowed other major international developments such as the Iranian nuclear negotiations as well as the Greek bailout drama.
In the span of a few weeks, China's stock markets have lost a staggering $3.4 trillion, an amount that is larger than the economy of most nations. The Shanghai index has lost 32 percent of its value since mid-June.
ABOUT THE AUTHOR
Richard Javad Heydarian is a specialist in Asian geopolitical/economic affairs.
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