China and the World Economy in 2016: "Sell Everything"
Less than a quarter of an hour after opening, the Chinese stock market was closed by an automatic shutdown. This was triggered twice last week by rapid falls of more than 7%. This "circuit-breaker" mechanism was imposed by the government only 5 months ago after equally dramatic losses. The government has now suspended this measure, not from new-found confidence, but as a further turn of panic.