Following a plunge in economic meltdown, the Chinese stock market has plunged to a execrable length.
If in days the economy smack down could not be rescued, there could be spill of angers. Stock purchase has been held in abeyance and much of stock was bought on money borrowed from banks. According to a report, the stock market meltdown is going to a shocking digit of 3.2 trillion US Dollars.
While Greece is recently fighting her way to rescue her economy in an apparently decrepit situation, a major economy power was hit by another appalling economic tragedy.
First of its kind in recent years, the Chinese government have been fighting to battle down the tragic montage that has crept on to the floor of stock market floor. While the situation seems irredeemable, Xinjiang, Chinese president argued that the show of shame that the government will use, all in his capacity, to contain this blow that hits the face of Chinese economy.
Over the time, China has been an arch-rival of US on global economic holder. This hit seems to have plunged them down the level.
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