The most highly levered, thinly participated global financial markets since 2007 can ill absorb a cash squeeze in the world’s 2nd largest economy. Chinese stocks were down a further 5.3% last night and the Shanghai Composite is now below 2000 again for the first time since 2008. Bloomberg Economics Editor Michael McKee examines the impact of China’s move to limit liquidity in their financial system as their economic growth slows. Here is a direct video link.
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