Conditions in China appear to be going from bad to worse.
On Monday, another bloodbath ensued in Chinese stocks. The Shanghai Composite Index nosedived 8.5% - the largest single-day decline in eight years. For every stock that rallied, 75 plummeted.
So much for all those government stimulus measures!
I’m afraid the latest news on the economic front isn’t much better. Once the poster child for GDP growth, China’s economy is now decelerating – and at a faster rate than many expected.
After decades of double-digit growth, we can now expect, at best, 7% growth moving forward.
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