Chinese markets continue to fall, amid mounting concerns over growth - World Socialist Web Site
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Chinese markets continue to fall, amid mounting concerns over growth
By Nick Beams
12 January 2016
Chinese stocks continued to fall yesterday despite intervention by financial authorities to stabilise the value of the renminbi (also known as the yuan) and head off growing fears that it is set for a major fall.
A plunge in the renminbi would initiate a new deflationary wave through the global economy and provoke capital flight from China, which saw its currency reserves fall by $500 billion last year, with December setting a monthly record.