Expect our TV screens to see waves of red when it comes to the news just now. Not Monday’s goalless battle between Liverpool and Arsenal, but rather the tumbling value of the FTSE and other market indices. The value of stock markets is falling around the world, and all roads lead to one explanation: China.
The Chinese government seems to have decided that it will have to let its markets correct. As an economy in transition, there is an ongoing internal battle within China – about which it can be difficult to know much for sure, due to the closed nature of that country – with regards to how far to control and dictate to the Chinese economy, or how much to allow open trade.
Subscribe to The New Statesman today from only £8.99 per month
Content from our partners
