Chinese markets has been on a downfall since the government devalued yuan
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Hyderabad: While the world reels under the stock market crash caused due to a slowdown in Chinese economy, a Chinese news agency has put the onus of the global meltdown.
The agency Xinhua tweeted, “Black Monday! #ChinaStocks join global panic selloff, dive 8.5%, worst since Asian financial crisis at midday,” squarely brushing off its responsibility as its own market fell by 8.49 per cent causing a global stock market meltdown. The Chinese markets has been on a downfall since the government devalued yuan coupled with weak manufacturing data.
( Source : deccan chronicle )
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