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China's Stock Market Stumbles Impact Government's Credibility

Mainland China's two stock markets saw huge growth over the past year, and as the country's state-backed media forecast even-higher returns, millions of middle class Chinese bought into the soaring markets. But since June 12, the markets have lost nearly $3 trillion dollars and the government has been publicly trying to reassure panicked investors by pumping billions of dollars back into the faltering market, ordering state-backed companies to buy shares, and loosening banking...

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