Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Is China's Economy Collapsing?
Posted
July 9, 2015
Views
127,654
Likes
1,249
Comments
454
Engagement
1.33%
July 9, 2015
127,654
1,249
454
1.33%
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6:25Now PlayingGreece isn’t the only country facing a serious economic crises. In the past month China’s stock market has plummeted 30%. Hosts Ana Kasparian (The Point) and John Iadarola (Think Tank) break it down. Tell us what you think in the comment section below.
"While all Western eyes remain firmly focused on Greece, a potentially much more significant financial crisis is developing on the other side of world. In some quarters, it’s already being called China’s 1929 – the year of the most infamous stock market crash in history and the start of the economic catastrophe of the Great Depression.
The dramatic series of government interventions to stem the panic – hitherto unsuccessful, it should be added – would similarly have been up there at the top of the news agenda. Yet the pantomime of the Greek debt talks, together with the tragi-comedy of will they, won’t they leave the euro, has relegated the story to little more than a footnote - even though 940 companies, more than a third, have now suspended trading on China’s two main indices.”*
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