MercoPress. South Atlantic News Agency
Chinese stocks tumble as Beijing announces an end to the era of cheap credit
Chinese stocks touched a four-and-a-half-year low on Tuesday amid persistent concerns over the government's credit-tightening policy. The Shanghai Composite SSE index fell as much as 5.8% at one point, before a late rally meant it ended down 0.3%. Read full article
Comments
Disclaimer & comment rulesOpps......south america's savior seems to be mis-firing on a few cylinders. With international businesses pulling out of China for bureacratic BS, logistical nitghmares, transit costs and legalese knots.......China's glory days are behind them. Now they need to find a way to maintain the newly created middleclass. Such a dilema for China.
Jun 25th, 2013 - 08:27 pm - Link - Report abuse 0Er ummm, shall I be the first to say it,,,,
Jun 25th, 2013 - 09:15 pm - Link - Report abuse 0dum dum dum
TOLD YA
They are in a much worse crisis than the USA was a few years back. This could bring on civil riots into the cities not just in the countryside.
Does anyone else smell revolution?
I am thinking the trolls will not be on this article......in fact they are light everywhere. Their checks must be bouncing.
Jun 26th, 2013 - 09:49 am - Link - Report abuse 01 Poppy
Jun 26th, 2013 - 01:20 pm - Link - Report abuse 0For Chile, China is our number 1 customer but not our saviour. The drop in copper prices and the Fed pulling the free money back have both pushed the Chilean peso lower this year. This is welcome news for all the non copper exporters (which make up 50% of our exports), so there is a plus side. However, government revenue will be down which is going to be a problem at a time when the public are demanding increased public spending = lots of public protests.
I have faith that we will continue to grow, albeit at a slower rate - ¡ por la razón o la fuerza!
2
We might not see a Chinese spring but they are fast running in to that wall that autocratic regimes can’t get past. They know that and will have to speed up social reforms. They have the state machinery and $3 trillion in cash to hold down any revolution in the meantime.
The thing that could save them lots of grief would be to start making QUALITY products cheaply.
Jul 01st, 2013 - 11:36 am - Link - Report abuse 0Apart from items policed by western companies and marketed as high quality at a high price (and they have trouble those as well) the rest of the stuff is of indifferent quality at best.
The high ticket items such as cars they sell in Uruguay look great but perform very poorly and fail consistently. This is not helped by the fact that spares support in VERY poor.
Japan went through this in the 1960's. How we laughed at the first motorcycles that arrived in Britain. “Sized for Nips” was the cry but only a few years later they killed the local bikes and it took a new breed of businessman to tackle them with the Triumph brand and doing very well they are by copying (almost) the Japanese.
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!