These are not happy times for the people’s Republic of China as stock prices recorded new lows today.
The second largest economy has experienced rapid share price depreciation in the past month amidst government efforts to prevent a crash.
The Shanghai composite index fell 8.5% today, making it the worst plunge in eight years.
Uncertainty has triggered a global dumping of Chinese stocks, which is worsening the crisis.
The Chinese market is affecting other Asian markets as speculators continue to bet against the government’s willingness to take substantial measures to rescue the stock market.