Never underestimate a businessman. President Trump seems to be winning the trade war with China after only a few weeks. From India's Focus World News:
Chinese Economy: China Dethroned By Japan As World’s Second Biggest Stock Market
NEW DELHI: China just lost its ranking as the world’s number two stock market.
After a Thursday slump, Chinese equities were worth $6.09 trillion, according to data compiled by Bloomberg. That compares with $6.17 trillion in Japan. The US has the world’s largest stock market at just over $31 trillion.
China’s stock market overtook Japan’s in late 2014, then soared to an all-time high of more than $10 trillion in June 2015. Chinese equities and the nation’s currency have taken a beating this year amid a trade spat with the US, a government-led campaign to cut debt and a slowing economy.
“Losing the ranking to Japan is the damage caused by the trade war,” said Banny Lam, head of research at CEB International Investment Corp. in Hong Kong. “The Japan equity gauge is relatively more stable around the current level but China’s market cap has slumped from its peak this year.”
Much of their GDP is based on export. Curtail that and they will come to heel very soon. Make America Great Again!!!
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