In a week where all headlines were focused on Greece's economy, another financial crisis has been competing for the world's attention - shares on China's stock markets have nosedived, prompting fears of the biggest financial disaster since the 1929 Wall Street crash.

More than $3.2 trillion has been wiped out in less than a month - an amount more than 10 times the size of the entire Greek economy.

The Chinese government has issued an emergency response, signalling serious concern about the crisis. 

Beijing has unveiled plans to lend billions to Chinese brokerage firms and has even allowed basic pension funds to invest in the markets.

Despite these attempts to help the flagging economy, over a 1,000 companies have halted trading on mainland Chinese exchanges.

Andrew Kenningham, a senior global economist, at Capital Economics joins Counting the Cost to talk about the fallout from China's stock market crash.


Can Muhammadu Buhari turn Nigeria around?

In a milestone for Nigeria, Muhammadu Buhari was elected president in April, becoming the first person to unseat a democratically elected Nigerian president through the ballot box.

The 72-year-old made numerous election pledges - including plans to stop the armed group Boko Haram.

Despite being Africa's largest economy, the UN estimates that 67 percent of the population lives in poverty, most of whom are based in the impoverished north where the group has a strong support base.

Charles Nwodo Jnr, the executive chairman at XL Africa group joins Counting the Cost to discuss what Buhari must to do to turn the country around.

Source: Al Jazeera