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Post by unlawflcombatnt on Jun 4, 2007 8:13:04 GMT -6
Stocks open lower after China stock drop" Wall Street retreated mildly Monday as U.S. investors assessed a sharp decline in Chinese stock prices and awaited more economic data.
The benchmark Shanghai Composite Index plummeted 8.3 percent, its biggest one-day drop since the Feb. 27 plunge that set off a brief global market selloff. The Chinese government has been trying to cool the country's market boom, causing the stock index to fall 15 percent since a record high last Tuesday...." The full Yahoo News article by Madlen Read can be found at: Stocks open lower after China stock drop
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Post by Ken on Jun 13, 2007 13:29:37 GMT -6
This is due to a sales tax on Stock trades. Lets see how this works out. It may be a good idea. When speculation gets excessive, Tax stock purchases. Like Reagan said. "You want less of something...Tax it". China is in a massive bubble beyond the NASDAQ and on Par with Japan. To prevent a further run-up...Tax it!
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Post by rjfliberal07 on Jun 13, 2007 20:46:05 GMT -6
They better do something to slow their growth rate down. I believe it hit 11 percent year over year growth last quarter which is high by even a developing economies standards. Growth there should probably be half that now. If the U.S would institute tariffs on Chinese goods or if China let it's Yuan float freely instead of pegging it to the dollar, I believe our economies would grow better long term without any dangerous bubbles occurring or uneven job growth between the two countries.
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