Forget Greece. They "only" owe 375 billion Euros. The Chinese stock market has lost ten times that amount in the last month alone. After years of continual rises in share value, many millions of Chinese have been encouraged to invest their savings in the stock market. But suddenly, within weeks, their profits have been wiped out and the world's financial markets are holding their breath, wondering what the "financial earthquake" here holds for them. Jiajia is just one of those millions who was gleefully counting her theoretical profits from money she invested a decade ago, until last month. Although more savvy than most, she has now seen most of those "paper profits" disappear. The Chinese Government are throwing everything they've got at the problem - having millions of angry Chinese on their hands is not in their best interest - and we're hoping for some sort of recovery soon. Fingers firmly crossed!
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