HUFFINGTON POST

Why Is China's Stock Market Crashing?

TO GO WITH China-economy-stocks, FOCUS by Fran Wang
This photo taken on June 26, 2015 shows an investor checking the share p
TO GO WITH China-economy-stocks, FOCUS by Fran Wang This photo taken on June 26, 2015 shows an investor checking the share prices in a stock firm in Fuyang, east China's Anhui province. When China's main share index hit a seven-year high earlier this month, it topped off a run that had seen it more than double in value over the past year, placing it among the world's top performers. AFP PHOTO CHINA OUT (Photo credit should read STR/AFP/Getty Images)

China’s stocks tumbled in recent weeks. Barely three weeks earlier, on June 12 (Friday), Shanghai Composite (SSEC) closed at 5166.35 points, the highest since January 18, 2008. Yet by the end of July 3, the SSEC shed 1481.99 points, losing almost 29 percent of its recent high and more than $2.8 trillion of value (i.e., 10 times of Greece’s annual GDP).

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