China downturn could lead to social unrest-papers June 1

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The severe downturn in Chinese stockmarkets could lead to widespread social unrest and a slowdown in economic growth in Asia, according to Citi analysts based in Hong Kong.

The Daily Telegraph reports the analysts’ warning follows Beijing’s decision to treble stamp duty on share trading on Tuesday night which led to a 6.5% fall in the main index. "A major stock market correction could impact social stability significantly. Of all the likely consequences, this could be the government's top concern, especially as the country is in the middle of a new round of leadership change," says the Citi analyst. Citi also warned a slowdown in China's GDP growth could impact economic expansion in Hong Kong, India, Indonesia, Korea and Taiwan. Man Group, the world’s la...

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