Chinese Stocks Just Lost 10 Times Greece's GDP
"What happens in China will turn out to be far more consequential than any sting that Greece may deliver," says HSBC's Neumann
This article is for subscribers only.
As Europeans hold their breath awaiting a referendum that will help determine Greece's future in the euro zone, a stock market slump on the other side of the world is causing barely a ripple in global markets.
A dizzying three-week plunge in Chinese equities has wiped out $2.36 trillion in market value -- equivalent to about 10 times Greece's gross domestic product last year.