By Jack Rasmus What’s happening in China? Is it becoming the locus of the next financial crisis? Some well positioned capitalists are beginning to suggest so, including no less than that guru of global hedge fund and financial speculators, George Soros. The Bank of Central Banks, the Bank of International Settlements (BIS) in Geneva, is saying … Continue reading
By Ellen L. Frost The sudden, sharp fall of Chinese stock prices twice in 2015 and again this month does not necessarily herald a further slowdown of GDP growth. But investor confidence, the bedrock of a healthy economy, has been shaken both in China and throughout the world. As Chinese leaders struggle to implement market-based reforms, … Continue reading
By Bob Hennelly, WhoWhatWhy I. The Year of the Red Monkey, also known as the Fire Monkey, starts next month in China. According to Chinese astrologers, the year will be a real rollercoaster ride, filled with surprise and mischief. And, they say, it bodes well for individual initiative, as opposed to collective effort. Will these predictions … Continue reading
By Peter Symonds The upheavals in global share markets since the beginning of the year have focussed attention on China amid fears that the slump in its stock markets and the falling renminbi (yuan) are symptoms of a far deeper economic malaise. The slowdown of the Chinese economy, which is exposing massive overcapacity in industry … Continue reading
By Charles Hugh Smith Who’s going to buy the tens of millions of empty flats held as investments? I’ve been writing a lot about China recently because it’s becoming increasingly clear that China’s economy is slowing and the authority’s “fixes” are not turning it around. That means the engine that pulled the global economy out of … Continue reading
By Charles Hugh Smith All the phantom wealth piled up in China’s boost phase is now melting down, and the China Syndrome will trigger a meltdown in global phantom assets. The 1979 film The China Syndrome took its name from the darkly humorous notion that a nuclear reactor meltdown in the U.S. would burn straight through the Earth to … Continue reading
Economists James Henry and Ho-fung Hung warn that China’s debt-to-GDP ratio above 240% is an indicator that there is a major disconnect between the market and the real economy. The following is a transcript of an interview with the two economists on the Real News Network. SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to the Real News Network. … Continue reading
By John Vibes Amid stock market panic in China, many of the country’s most prominent billionaires are disappearing without a trace. This week, Zhou Chengjian, the chairman of the clothing company Metersbonwe became the most recent wealthy Chinese businessperson to go missing. Metersbonwe said in a statement on Thursday that it would be suspending its … Continue reading
Brent crude prices came crashing down on Thursday, falling over 4 percent to the lowest level seen since April 2004, following a rocky session in Asia after China accelerated the pace of the devaluation of its currency which drove its markets into a tailspin as shares plunged over 7 percent and triggered circuit breakers to kick in and … Continue reading
China halted the day’s trading after only 29 minutes of opening on Thursday morning as shares crashed by over 7 percent — thus triggering an automatic circuit breaker — as authorities accelerated the devaluation of the Chinese yuan. China’s recently installed circuit breaker mechanism paused trading for 15 minutes after the CSI300 index fell 5 percent in the first 13 minutes of trading. Upon resumption … Continue reading