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Fears of an economic meltdown in China

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Mounting instabilities in the Chinese economy have provoked fears among international analysts that world capitalism is about to be hit by another shock. A clear indicator of global concern over a crash in China is the rising net value of outstanding credit default swaps (CDS) on Chinese sovereign debt--a type of insurance against a Chinese government default. This now stands at $US8.3 billion

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At www.wsws.org

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