The China syndrome

The prospect of a Greek exit from the euro has garnered most of the headlines over the past month, but a potentially bigger crisis on the other side of the world could be a greater threat to energy markets
By Peter Stewart 15 July 2015
Chinese investors monitoring stock prices at a brokerage house in Beijing. While the prospect of a Grexit has grabbed the headlines recently, a potentially bigger crisis in China could be a greater threat to energy markets. (PA)

China’s stock market has gone into meltdown over the past few weeks, with its value dropping by around a third after months of stellar gains. Until recently, the collapse in stock prices was seen as a normal correction in an overheated bull market, but experts are now talking of looming disaster in the world’s most populous country.

However, after a drop of 8% on 8 July – which analysts have dubbed ‘Black Wednesday’ – Chinese authorities have taken drastic steps to shore up the market. The...

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