China’s stock market is crashing, and the Chinese are trying to do the exact same thing America did in 1929

‘While European attention is focused on Greece, China is having a serious market meltdown.

After exploding earlier in the year because of deregulation, China’s benchmark Shanghai Composite has collapsed a crazy 29% since the highs of early June. China’s other stock markets have had similarly steep falls.

Bloomberg notes that the crisis is closely mirroring the 1929 Wall Street crash, which led to the Great Depression in the US in the 1930s.’

Read more: China’s stock market is crashing, and the Chinese are trying to do the exact same thing America did in 1929

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