8 years ago
5
The Chinese stock market has lost £1.5 trillion in the last three weeks
The Chinese stock market has endured a torrid three weeks in which it has lost value equivalent to £1.5 trillion — that's 10 times the size of Greece's annual GDP.
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http://www.independent.co.uk
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One bubble burst. The property bubble is still there. Normally there is a 9 months lag from a stock market bubble burst, until it affects the property market; This will get interesting in April...
If that is true I expect things to get very interesting in the political sphere. The Chinese government has been doing a lot of things related to the 'cultural identity', 'historic boarders', and other things related to national pride. If the economy really does take a downturn there, I would expect for the government to ramp these things up even more. Try and push hate and blame on the west while strengthening the resolve of the people. Its a common tactic for all governments (us vs them).
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Oh dear. Let's hope it's not another GFC