China’s stockmarket nightmare is nowhere near over
The situation ought to worry Xi Jinping
Running China’s securities watchdog is a perilous job. A market rout can end your career, or worse. On February 7th, after weeks of stockmarket instability, Yi Huiman, the head of the China Securities Regulatory Commission (CSRC), was suddenly fired and replaced. He is not the first official to fall after a period of plummeting stock prices. Liu Shiyu, his predecessor, was sacked in 2019, and later investigated for corruption. Xiao Gang, the boss before that, was treated as a scapegoat for the market crash in 2015.
Explore more
This article appeared in the Finance & economics section of the print edition under the headline “Fanning the flames”
Finance & economics February 10th 2024
From the February 10th 2024 edition
Discover stories from this section and more in the list of contents
Explore the editionDiscover more
The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election victory
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer
