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Fears Of A ‘Lehman Moment’ in China Are On The Rise
Negative headlines emerge from the heart of China's economy, where an escalating real estate crisis has unleashed ripples that are unsettling the financial sector, echoing troubles witnessed in the early stage of the 2008’s subprime mortgage crisis. The People's Bank of China implemented marginal interest rate cuts and offered verbal reassurances in attempts to stem the tide. However, investors anticipated more robust measures to staunch the financial bleeding. The Chinese yuan (CNY) close the week to its lowest point since January 2008, hovering around 7.31 per dollar. The Hong Kong Stock Exchange has undergone a ... (full story)