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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