China isn't facing a "cataclysmic" economic slowdown and last week's market turmoil was more about badly designed stock market circuit breakers, said Nobel-prize-winning economist Joseph Stiglitz. The circuit breakers, which caused local exchanges to close early on two days last week after stocks plunged to a 7 per cent limit, weren't as well designed as they could be, Stiglitz, a professor at Columbia University in New York, said in a Bloomberg Television interview in Shanghai. The market closures and lower daily fixing rates for the nation's currency against the ...
China not facing 'cataclysmic' slowdown, says Stiglitz
The Shanghai Composite Index slid again Monday, pushing its decline in 2016 to 15 per cent
Bloomberg Last Updated at January 12, 2016 00:46 IST