What is causing China’s economic slowdown?
Chinese markets plunged on Monday in the biggest loss since the financial crash of 2007.
There is growing concern among investors that the world’s second-biggest economy is declining more than previously thought. The government has injected $100 billion into banks to help spur the economy.
Earlier, China’s central bank devalued the yuan in a move seen as a bid to help exports.
But what is causing this decline? And what are the ramifications for the global economy?
Presenter: Mike Hanna
Guests:
Fraser Howie – Co-author of ‘Red Capitalism: The Fragile Financial Foundation of China’s Extraordinary Rise.’
Alberto Gallo – Head of Macro Credit Research at the Royal Bank of Scotland.
Peter Schiff – CEO and Chief Global Strategist of Euro Pacific Capital.