China financial markets in freefall | WBEZ
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China financial markets in freefall

China’s economy and stock markets have been on a deep decline. Hundreds of billions of dollars have left the country in the last year. The Shanghai Exchange, on Monday, posted its biggest loss since 2007. The markets bounced back slightly this week, after Beijing announced moves to restore confidence, such as buying back stocks, easing fiscal policy and aggressively restricting unethical practices like “stock dumping.” The regional reverberations have hit hard at countries like Australia, a major exporter to China. Observers warn that if the downward spiral doesn’t turnaround soon, China will displace Greece as the world’s most dangerous financial crisis. We’ll talk about China’s economic slowdown with Nicholas Consonery, Asia director for Eurasia Group, a “global political risk research and consulting firm.” He leads the firm's consulting and advisory work on China. PHOTO: In this photo provided by China's Xinhua News Agency, a man walks past stock market quotation on display at a business lobby of a security company in Huaibei, east China's Anhui Province, Monday, July 27, 2015. The Shanghai share index dived more than 8 percent Monday as Chinese stocks suffered a renewed sell-off despite government efforts to calm the market. (Xie Zhengyi/Xinhua News Agency via AP)

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