Outright ignore the whitewashing within the article. China is in full-blown crisis mode.
The only reason this article made it to the front page here is because it was an $800 billion loss. Morever, the Chinese Communist Party (CCP) has been outright forcing people to stay in the markets by banning sell-offs and to take a hit, possibly losing it all. Otherwise, the economy would likely crash. The CCP is fully panicked and they’re running out of tricks to keep the can being kicked down the road.
China is reverting to credit stimulus after attempts to engineer a stock market boom failed horribly. The day of reckoning is delayed again
China is engineering yet another mini-boom. Credit is picking up again. The Communist Party has helpfully outlawed falling equity prices.
Economic growth will almost certainly accelerate over the next few months, giving global commodity markets a brief reprieve.
Yet the underlying picture in China is going from bad to worse. Robin Brooks at Goldman Sachs estimates that capital outflows topped $224bn in the second quarter, a level “beyond anything seen historically”.