July 8th, 2015
Episode 218 of 558 episodes
The bubble has burst, and China’s stock market has fallen by 30%; in dollar terms that’s over $US 2 trillion and Beijing’s attempts at intervention has so far had minimal effect. Quoting a translation from the Communist Party newspaper “The People’s Daily” , it warned people not to “lose their minds” over this, and urged patience with the governments measures to produce results. So can the CPA dig itself out of a situation it has been instrumental in creating? Will it tarnish the credibility of President Xi Jinping, and the Communist Party’s efforts at economic reform?