When there’s no other investor to turn the market around other than the government, which nine times out of ten compounds the problem, you know it’s done.
China has spent $144 billion (€132bn) to bolster the country’s fragile stock market since June, Goldman Sachs has estimated, but still has more than that amount in reserve to deploy if stocks resume their sharp descent.
The coalition of state financial institutions – the “national team” – has a war chest of roughly $322 billion at its disposal to support the market, the bank believes.
Global Geopolitics 