A rout in Chinese stocks that Beijing is desperately trying to stem has deep political ramifications for the country’s Communist party, analysts say.
Tumbling stocks add one more thing to the list of grievances among China’s growing middle class that threatens to undermine the ruling Communist party, Charles Robertson, global chief economist at Renaissance Capital, said on CNBC’s “Squawk Box Europe.”
The benchmark Shanghai Composite stock index has tumbled almost 30 percent in the past month, triggering a slew of measures to prop up a market where the vast majority of investors are from China’s middle classes.
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