China selloff shows rising global status – Joe McDonald

 Reuters Olcabus Iptc 2007-02-28T105806Z 01 Nootr Rtridsp 2 Business-Markets-Global-Col From BusinessWeek:

The shock wave set off by a plunge in Chinese stocks reflected intense foreign interest in the nation’s economic health, but it was jitters over Iran and a possible slowdown in the U.S. economy that turned the drop into a global rout, analysts said Wednesday.

They expressed surprise that the 8.8 percent drop Tuesday in China’s markets, which Beijing keeps closed to most foreign investors, could drag down stock prices in New York, Tokyo and elsewhere.

“Markets were on edge, China is the biggest emerging market, something bad happened in China, and that was it,” said economist Stephen Green at Standard Chartered Bank in Shanghai.

“But if you look at fundamentally what changed (in China), nothing new happened,” he said. [Full Text]

This topic on the Web, via Google News. Read also: CDT’s coverage on stock market in China.

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.