Stock Market Crash Could Derail China’s Financial Reforms for Years

A Chinese investor sits near a displays of stock information in a brokerage house, Beijing,, July 10, 2015 (AP photo by Mark Schiefelbein).
A Chinese investor sits near a displays of stock information in a brokerage house, Beijing,, July 10, 2015 (AP photo by Mark Schiefelbein).
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Extreme volatility in China’s financial markets has forced emergency interventions by financial regulators and thrown up major new challenges to Chinese policymakers. Following what amounted to a complete suspension of both onshore stock exchanges three weeks ago, market operations have begun to normalize, but confidence remains fragile. With emergency policies still in place, the broader institutional fallout is unclear, but potentially huge. The seeds of the stock market collapse were sown almost exactly a year ago. Following an 8-year bear market, a major slowdown in the real economy and increasing corporate debt-repayment obligations, it suited policymakers both politically and economically […]

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