Sunday, June 26, 2016

China: The stock market slump an overreaction – Västerbotten Courier

Britain has voted to leave the European Union has increased uncertainty in the market. But Friday’s sharp stock market and currency turbulence was something of an overreaction, according to China’s Finance Minister Lou Jiwei.

Although brexit “casts a shadow over the global economy,” will it be before we see the effects, according to the Minister.

– the repercussions and the outcome will emerge in the next five to ten years, he said during a meeting in Beijing on Sunday.

Lou Jiwei also invited market participants to calm down and try to look at brexit issue in an objective way.

the surprising news that the British want to leave the EU sent on Friday a shock wave through the financial markets. Overall, the decline in market capitalization in the world with more than 2000 billion dollars, equivalent to 17 000 billion.


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