6 must-reads on the Chinese stockmarket slump
The big falls in Chinese stockmarkets are triggering unease around the world. Here’s a round-up of key pieces to get you up to speed on what’s happening and what it might mean for the global economy and politics.
CNN provides the background in China’s stockmarket crash… in 2 minutes (and 12 bullets).
The FT looks beyond the stockmarket to the wider role of overconfidence in real estate.
Wade Shepard, author of ‘Ghost cities of China’, points out that not everyone is worried about stock market volatility, which is a symptom of a growing volume of personal wealth with few investment options.
The Economist concludes that a rerun of the 1997 Asian financial crisis or the 2008 Credit Crunch is unlikely but lower world growth is almost certain.
Professor Menzie Chinn of Econbrowser believes the Chinese will relax policy to prevent growth slowing much further in order to maintain social stability.
Mohamed El-Erian, former CEO of investment giant Pimco, believes more money will be pumped into the global economy short term while structural reforms in leading emerging economies are needed for long-term stability.
Author. Mark Jones is Commissioning Editor for the World Economic Forum
Image: An investor monitors share market prices in Kuala Lumpur, Malaysia, August 25, 2015. REUTERS/Olivia Harris.
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