Losing US$5 trillion ($7 trillion) in China's equity-market rout in just two months is bad. But measured by the intensity of the price swings, the selloff still fails to stand out among past market meltdowns.
China has the world's most volatile stocks right now after Greece, yet the fluctuations are 30 per cent lower than the average of six financial market crashes, including the ones in 1929 in the US, Japan in the early 1990s and Thailand in 1997. The 43 per cent decline so far in the Shanghai Composit...
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