“After China’s stocks crashed in June, the government put more than $400 billion at the disposal of a little-known state agency, the China Securities Finance Corp., headed by an academic and bureaucrat named Nie Qingping. Four weeks into the new role, the picture emerging from Nie’s published books and commentaries, as well as interviews with fellow academics, is of a professor with 25 years of experience watching stock manias — who still got blindsided by China’s latest crisis. Since China Securities Finance started buying on July 6, a measure of volatility in stocks has surged to nearly a 20-year high. On July 27, the Shanghai Composite Index plunged 8.5 percent, the most since February 2007.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
'A tide of squatters’ spreads in Spain in wake of foreclosures
Uruguay to sell legal marijuana for $1 a gram
Trump slaps tariffs on foreign solar panels and washing machines
‘Catch Me If You Can’-inspired Italian man impersonates airline pilot
Bitcoin Fever Catches on in India
Switzerland: The Other Currency Manipulator
Bitcoin Goes to Washington: Monday’s Hearing Is Just the Beginning
Palestinians can now order Kentucky Fried Chicken via tunnel to Egypt
The jihadist behind the takeover of Mosul - and how America let him go
New Security Device Put To Use In Edmond Schools
FDA approves first brain wave test for ADHD
The Company Making Billions Off China’s Worried Parents
Lengthy, costly trail to Bay Bridge's eastern span
Japan economics minister warns of premature QE exit
U.S. transport ship with hundreds of Marines deployed to the Mediterranean