Oct
19
Discordant Financial Messages From China Spur Global Unease
By
Workers direct a crane lifting newly made steel bars at a factory of Dongbei Special Steel Group in Liaoning Province. CreditChina Daily/Reuters
HONG KONG — China’s bungled stock market bailout was a significant setback to its decades-long efforts to build a modern financial system.
Its currency devaluation shocked global investors and altered the policy calculus at central banks from Hanoi to Washington.
A highly anticipated package of overhauls to sprawling state-owned companies was a crushing rebuke to hopes that China would move to privatize such businesses. Instead of reducing their stakes, the Communist Party said it would increase its control over such companies…
Discordant Financial Messages From China Spur Global Unease
