The country suffers from four economic challenges that it is unwilling—and perhaps unable—to confrontby George Magnus / January 7, 2016 / Leave a comment
In February, China will celebrate its New Year. It’ll be the Year of the Monkey, which, according to tradition, is supposed to be unlucky for those born in it. For China, misfortune has already marked the year since financial markets opened on 2nd January. Today, so-called circuit-breakers were used for the second time to shut down the market and halt a precipitous fall. All of a sudden, a pervasive sense of deja-vu has spread as people recall the brutal stock market decline of last summer, and the curious mini-devaluation of the Renminbi (RMB). Bearing in mind China’s global significance, what is China’s financial flop all about, and how long could it last?