China Crisis
More than a third, of the companies, have suspended trading, on their markets.
It could make the Greece issue look very trivial.
http://www.msn.com/en-gb/money/economy/the-really-worrying-financial-crisis-is-happening-in-china-not-greece/ar-AAcGjaG
Comments
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Still trading about 150% higher than a year ago I believe.0
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It's the Tories fault.
Or maybe a correction following unbelievable growth over the last year.
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I think it's going to be a crash, rather than a correction & it will hit the Chinese economy very hard.
This will in turn, likely, effect the world economy.0 -
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I'm glad someone got my double entendre.
I saw them a few times, as my girlfriend was a fan.
I think we saw them at The Rock Garden, Covent Garden.
Bloody hell 1983 :-(1 -
I had presumed you were referring to the band (I remember them but none of their songs!)
It is serious for the world economy, as Chinese consumer spending has been a massive benefit for western luxury products. It will also put pressure on the Chinese authorities if 90m influentual Chinese middle class lose a lot of their savings...0 -
Companies that make products that no one buys or builds roads that go nowhere and unnecessary bridges. I wouldn't worry too much.0
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Quite pleased. Will hopefully bring the Hong Kong house and rental market back to reality. Might also stem the flow of Mainland tourists and their luxury shopping that makes the streets so impossibly crowded.0
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I can't see the Chinese government allowing that to happen.Covered End said:I think it's going to be a crash, rather than a correction & it will hit the Chinese economy very hard.
This will in turn, likely, effect the world economy.
However, if it did happen it might just be the biggest crash we've ever seen, the amount of empty apartments just sitting around 'increasing' in value is insane.
My job means I'm in regular contact with those in the top 10%, wealth wise. Some of the things I see and conversations I have are mind blowing.
One family I have a pretty good relationship with have just bought an apartment for their 2 year old son, as they know they will have to buy him a house in order for him to get married, yet are worried what the price might be in 20 years. Utter madness.0 -
I thought this was going to be about the band too! I was expecting to be chatting about the merits of Christian, King in a Catholic Style and Arizona Sky. Ah well, bad news if the Chinese economy goes to the Wall. As the USA showed us in the thirties, one big economy in tatters can drag a the rest of the world into recession too.
Time to save the Greeks, as bad times are a'coming.0 - Sponsored links:
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Bring back the 80's!0
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But will that stop Delaneys closing?? Just been sent this bit of news this am. One of my favourite places back in the day.Chunes said:Quite pleased. Will hopefully bring the Hong Kong house and rental market back to reality. Might also stem the flow of Mainland tourists and their luxury shopping that makes the streets so impossibly crowded.
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I expect China to survive because they manufacture more or less everything that the world buys that isn't high tech.0
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This is the death of capitalism, comrades.0
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lets hope this is a correction not a crash. Greece is totally insignificant to the world economy in this context0
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Thought this was a thread highlighting the downturn in price of my Clarice Cliffe collection.3
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I had better get my Ray Bans delivered before it all goes tits up. I paid £3.99 with free postage.5
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Quite a bit of contagion here in Hong Kong where 50% of listed companies are based on the mainland. Worrying times in a hugely inflated bubble waiting to burst but there has been a late rally.
Only in China can the government order key shareholders not to sell.
If this does end in tears we are all buggered unless you own your own home outright, have lots of US dollars stuffed in your mattress and work in the illegal synthetic drugs industry.0 -
China has been busy buying up natural resources, especially gold for some considerable time. The stock market correction should be taken in the context of a reduction in growth rather than recession out there.
Trouble is, nobody really knows what the long term holds when an intrinsically communist regime plays at capitalism with a heavy sprinkling of alleged corruption throughout. Allegedly.0 - Sponsored links:
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They will sell and reinvest, for a lot of the people I speak to, the idea of property dropping in value is madness. Tick tock tick tock.JessieAddick said:It's been utter madness for quite a few months. I'm just glad I'm not directly involved in this mess. Will post more details after work later today. Just one quick question re the family mentioned by @Stu_of_Kunming: why would anyone want to live in a 20+ years old apartment when it is common knowledge that many apartments in China these days are poorly built? Unless the parents don't really plan to keep the apartment till their son gets married?
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Used to hang out in the Wanch eh? I'm sure they'll just move to a new building.Curb_It said:
But will that stop Delaneys closing?? Just been sent this bit of news this am. One of my favourite places back in the day.Chunes said:Quite pleased. Will hopefully bring the Hong Kong house and rental market back to reality. Might also stem the flow of Mainland tourists and their luxury shopping that makes the streets so impossibly crowded.
Rent hikes are out of control, seems like nobody stays anywhere for more than 3 years, it's a miracle they were there for 21.0 -
I asaumed band or broken cake stand0
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There's a street in Kunming (a tiny 2nd tier city with only 6m people) with rents higher than Manhattan.Chunes said:
Used to hang out in the Wanch eh? I'm sure they'll just move to a new building.Curb_It said:
But will that stop Delaneys closing?? Just been sent this bit of news this am. One of my favourite places back in the day.Chunes said:Quite pleased. Will hopefully bring the Hong Kong house and rental market back to reality. Might also stem the flow of Mainland tourists and their luxury shopping that makes the streets so impossibly crowded.
Rent hikes are out of control, seems like nobody stays anywhere for more than 3 years, it's a miracle they were there for 21.
Its insanity.0 -
I loved African and White, great stomping drums2
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Tiny city with only 6 million people ...... ?Stu_of_Kunming said:
There's a street in Kunming (a tiny 2nd tier city with only 6m people) with rents higher than Manhattan.
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Chinese market has biggest 1 day fall for 8 years. Down 8.5%.0
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Tragedy and Mystery0
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Covered End said:
Chinese market has biggest 1 day fall for 8 years. Down 8.5%.
Tragedy? Perhaps for some small investors. Mystery? Not at all.bazjonster said:Tragedy and Mystery
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Open your eyes, and you will see.
Your world is changing faster every day0
https://youtu.be/oj20LKdg8-8
