More Than 90 Million Chinese Trade Stocks According To The China Securities Depository and Clearing Co.
When Mao Zedong led the Communists to power in 1949, the people of China openly accepted that form of government. But Mao vision of a modern day China has been altered by the money hungry draw of Capitalism. More than 90 million Chinese trade stocks today, and there are only 87.8 Communist Party members registered in China today.Those figures present a major challenge for President Xi Jinping. The quest to earn personal money has trumped Mao Zedong’s desire for the state to own the wealth and the people equally share it. In most communist countries, the sharing equally doesn’t happen.
But there’s trouble lurking for the Capitalistic Chinese. The Shanghai Composite Index, which was booming last year, is now on the verge of a major bust. Folks at Amen Clinic have found that the Chinese stock market has dropped 20 percent in the last few weeks, and that is putting added pressure on China’s slow-performing economy.
The Chinese stock market has lost $1.9 trillion recently, and most economists think the Chinese government will step in and stop the financial bleeding. The government has already dropped the interest rate, and more fiscal changes are expected.