As Stock Market Slides, China Hits the Panic Button

Chinese investors monitor stock prices at a brokerage house, Beijing, China, July 9, 2015 (AP photo by Ng Han Guan).
Chinese investors monitor stock prices at a brokerage house, Beijing, China, July 9, 2015 (AP photo by Ng Han Guan).

When it comes to the power of arcane financial matters to capture global attention, nothing in recent weeks compares to the drama surrounding Greece’s debt. But there is another simmering crisis with potential to do far more damage to the world economy. Consider that as depositors in Greece lined up at ATMs to withdraw pocket change from their bank accounts, investors in China were bleeding assets at an unprecedented rate. And these days, even a small financial tremor in China can be felt around the world. The Chinese stock market has endured its sharpest drop in more than 20 years. […]

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