Chinese authorities on Monday arrested citizens for spreading so-called ‘rumors’. A portion of the nearly 200 include people who circulated stories online about the severity of the country’s stock market woes, according to Chinese state controlled media on Monday. Could this mean the country’s economic collapse is more serious than China is admitting?
The official government-run Xinhua News Agency announced that 197 people have been punished in a special campaign. Included in these so-called ‘rumors’ were stories of Chinese stock brokers committing suicide rather than face a pending economic crash.
The fear that has gripped financial markets this month is a stark one: That China’s economy might be slipping into a decline that could persist for years.
A series of bungled decisions have escalated doubts about Beijing’s economic stewardship. The skepticism is rising just as China is pursuing one of the most daunting transitions in modern economic history — from overheated growth, driven by exports and often-wasteful investment, toward slower and sturdier growth fueled by spending from an emerging middle class.
The leadership’s miscues have multiplied, starting with its handling of the stock market. To try to cushion the pain from a slower economy, the government deployed state-run media to promote stocks for inexperienced individual investors. The hope was that Chinese companies could issue shares into a rising market and use the proceeds to finance growth and shrink their heavy debt levels.
Untethered from economic reality, Chinese stocks took wing. The Shanghai Composite Index rocketed 150 percent in the year through mid-June, propelled in part by individuals who poured money in, often on borrowed funds, confident that their government wouldn’t steer them wrong.
On June 12, the bubble burst: Shanghai stocks have since tumbled 37 percent.
The Dow Jones industrial average has lost nearly 1,000 points since China’s surprise move to devalue its currency Aug. 11. That step, in part an effort to align the yuan with market forces, was also seen by investors as a desperate bid to fuel exports in a faltering economy.
“The incredible faith in the Chinese policymakers has been shaken,” says Ruchir Sharma, head of Morgan Stanley’s emerging markets equity team.
The Associated Press contributed to this story
Both the democrats, and republicans are bought and payed for oil company,drug company, and aluminum can company stooges, they don’t work for us, we have a capitalist gov.
I guess you haven’t heard of Jesus having an army to fight the Antichrist Gov. are you going to be in Jesus’s army? The antichrist gov. is our US gov. run by the greedy company’s that are destroying our world
I ask people What caused this economic depression? no one can tell me, well do you know? high gas prices did, when the price of gas goes up so does the price of everything else, and the only thing that will bring us out of this depression is free energy , so force the auto company’s to make only water to hydrogen cars and trucks and conversion kits to change the pieces of junk fuel injected, and diesel trucks to run on hydrogen with switches to shut off the fuel injectors, and the fuel pump, don’t do this now and the economy will collapse soon, when our bought and payed capitalist Gov. goes bankrupt Tell every one not to buy a new car, and tell them to tell others, tell them they must do both. Don’t buy a new car, or truck.,
Cancer society’s are not doing any research, because they found cures for cancer way back in the 1930’s, and you won’t be giving them any money if they come out with a cure, they are the biggest mass murders, and you are paying them to kill you with chemo, and surgery, they can’t make any money curing you, catch 22, the best cure for cancer is in a book Encyclopedia of healing Juices, by John Heinerman, page 141 under Grape/ raisin juice, a man diagnosed with cancer didn’t do the murdering chemo, he buckled down and eat his fruits and vegetables, and killed all of his cancer, red fruits and vegetables, have a substance called lycopene that will kill cancer, and keep you from getting cancer, pore nutrient is what causes cancer, and a host of other illnesses so eat your fruits and vegetables, with your meat. a good balanced diet.
#1 cause of Alzheimer’s is aluminum poisoning, take all cookware to recycling, and don’t buy anything in aluminum cans, spread the word to every one, when we stop buying they will have to make iron cans, and cookware, so spread the word and tell those you tell to spread the word also. #2 cause is iodine deficiency, that cause’s bipolar, schizophrenia, depression, suicides, eat fish, and yogurt 2 to 3 times a week spacing them out every 2 to 3 days, because iodine will be depleted out of your body in 2 to 3 days
The flu shots have been tested out to have 25 mg of mercury per shot, they tested to have formaldehyde, ethylene glycol ( anti freeze ) and aluminum the #1cause of Alzheimer’s, ADD and ADHD, .The drug company’s pills are coated with aluminum oxide, they are slowly making you brain dead zombies, to give you a strong immune system from the flu, colds, and a host of other germs, and bacteria, you want to get Garlic, powder, and or minced and season with a little almost every day, all nutrients will be depleted out of your body in two to three days so you need a little almost every day, a garlic container should last a person 8 to 10 months.
Diabetes is one of the biggest medical scams, it can be cured with a little cinnamon almost every day, like iodine it will be depleted in 2 to 3 days, so a little almost every other day will keep your blood sugar level normal .
There’s a 200 mile per gallon carburetor sitting in the patient office collecting dust bought up by the oil company’s, Volkswagen has a 264 miles per gallon diesel but it’s not coming here, tell everyone not to buy any new car that gets less than 40 miles per gallon, and tell those you tell to tell others, continuing to tell everyone and we will boycott the making of these pieces of junk low mileage cars and trucks, and force the auto company’s to make kits to run cars on Hydrogen from water electrolyzer producing all the hydrogen with the alternator on your car / truck this is possible with two switches to shut off the fuel pump, and fuel injectors to change these pieces of junk cars, and trucks to hydrogen. boycott the auto company’s tell everyone, and tell them to continue telling people don’t buy a new car, or truck, also tell everyone to boycott aluminum cans , and cookware, they autopsied alzheimer’s patients and found aluminum nodules on the front lobes of their brains, aluminum poisoning also causes ADD, ADHD , and a host of other mental illness, also they found out that Iodine deficiency causes schizophrenia, bi-polar, depression, suicide, so eat fish 2 to 3 times a week, or take iodine pills every 2 to 3 days