This article appeared online at TheNewAmerican.com on Wednesday, July 8, 2015:
As predicted, the Chinese stock market accelerated its decline on Wednesday despite efforts by Chinese government officials to slow it.
The combination of over-leveraged investors with little prior experience about the prudent use of margin to buy stocks has turned the decline of the Chinese stock market into a rout. Closing on Wednesday at 3,507, the Shanghai Index has lost one-third of its value just since June 12 when it hit 5,178. The smaller Shenzhen Composite, made up of smaller technology stocks, is down 40 percent.
Jeremy Warner, economics commentator and assistant editor at London’s Daily Telegraph, viewed the carnage and remarked: