Will China become the next Greece? Collapse contagion spreading globally as financial fairy tales unravel
by: J. D. Heyes
NaturalNews.com
Friday, July 24, 2015
In recent days markets all over the world have tumbled somewhat as the Greek economy nears collapse and the government there toys with defaulting on billions of dollars in bailout funds it can’t pay without changes in the deal.
So imagine, if you can, what would happen to global market if the world’s second-largest economy tanked.
And yet, it seriously could happen.
As reported by CNN/Money, China’s stock markets are in such turmoil that more than 700 companies are calling it quits.
These firms have stopped trading in a bid to “self-preserve,” official state media – which is 100 percent government-controlled – is reporting. Translation: About a quarter of the companies listed on China’s two large exchanges, the Shanghai and Shenzhen, are no longer trading at all.
No question, say analysts, that China’s markets are in real trouble. The Shanghai Composite Index has collapsed 25 percent since mid-June, Meanwhile over at Shenzhen, which features more technology companies and is akin to the United States’ Nasdaq Index, has dropped even further.
The Rest…HERE
