Monday, November 30, 2020

Tag: Meanwhile in China

Meanwhile in China, Implosion of Stock-Market Double-Bubble

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by Wolf Richter, Wolf Street:

Stock-market bubbles don’t end well for those who don’t get out in time.

US tariffs and threats of more tariffs have not been particularly well received in China, which is already being rattled by corporate credit problems, quakes in the shadow banking system, a peculiar Enron-type phenomenon at provincial and municipal governments called “hidden debt,” and the implosion of nearly 5,000 P2P lenders that have sprung up since 2015. And so today, the Shanghai Composite Index dropped 1.1% to 2,651.79.