“China seems to be divorced from the rest of the world,” said Steve Sosnick, chief strategist at Interactive Brokers. “Part of the lack of equity response is that the global economy is doing OK without China. The prior reactions occurred when China was a bastion of growth in a shakier world.”
The US and China are on divergent economic paths, as exemplified by their respective stock markets. As China attempts to defuse a meltdown, experts argue for wide-ranging reforms to resolve fundamental issues weighing down growth and recovery prospects.
Wu Qing, a former chair of the Shanghai Stock Exchange with a reputation for being tough on market misbehavior, is the new head of the China Securities Regulatory Commission.
Wu Qing, a Shanghai official with experience in the city’s stock exchanges, has been appointed to head up China’s securities regulator as the country lays out measures to bring its markets under control.