Big trouble in China and beyond
Chinese shares have lost €6 trillion in a rollercoaster week. What’s next on the horizon for this creaking powerhouse of the global economy?
It has been a painful, painful few weeks for investors. At the close of trading on Friday night, €6 trillion, a sum equivalent to 30 times the size of the Irish economy, was wiped from the value of shares in China and the US alone in the space of just a few weeks.
The damage across Europe may not be as high, but the carnage has still cost investors hundreds of billions of euro.
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The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures