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Economy
In reply to the discussion: STOCK MARKET WATCH -- Wednesday, 26 August 2015 [View all]Demeter
(85,373 posts)24. Shoddy Chinese-Made Stock Market Collapses
http://www.theonion.com/article/shoddy-chinese-made-stock-market-collapses-51163
Proving to be just as flimsy and precarious as many observers had previously warned, the Chinese-made Shanghai Composite index completely collapsed Monday, sources confirmed.
Sure, it looked fine from the outside, but anybody who saw it up close knew that it was of such poor quality that it wasnt built to last, said Allen Sigman of the London School of Economics, adding that the stock market, which he described as a crude knockoff of Western versions, was practically slapped together overnight and featured countless obvious structural weak points.
They pretty much ignored regulations, and inspections were a joke. The only surprise is that it didnt fall apart sooner. Sigman added that he just hopes there werent too many people who were hurt in the disaster.
THE ONION, TELLING THE TRUTH IN THE FORM OF A JOKE
Proving to be just as flimsy and precarious as many observers had previously warned, the Chinese-made Shanghai Composite index completely collapsed Monday, sources confirmed.
Sure, it looked fine from the outside, but anybody who saw it up close knew that it was of such poor quality that it wasnt built to last, said Allen Sigman of the London School of Economics, adding that the stock market, which he described as a crude knockoff of Western versions, was practically slapped together overnight and featured countless obvious structural weak points.
They pretty much ignored regulations, and inspections were a joke. The only surprise is that it didnt fall apart sooner. Sigman added that he just hopes there werent too many people who were hurt in the disaster.
THE ONION, TELLING THE TRUTH IN THE FORM OF A JOKE
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