China Created Perform Storm For Bubble But Blames Outside Forces For Popping It. Fearing Unrest, New Law To Clamp Down Internet and Dissent

Source:  Marketwatch.

So, if you are not hiding in a whole, you should know that macroeconomic stars are aligned to put pressure on the stock market, oil and commodity prices, and creating general havoc that is rippling across the global market.  Greece is looking to be outed from the Euro but that is a minor issue this week compared to the collapse of the Chinese economy.

And guess who Beijing is blaming to deflect from its own mismanagement of its financial market and causing a general panic on the streets of China?  Us.  Namely, anyone but those good folks in power. 

And keeping the average Chinese from pouring into the streets that may result in civil unrest at best and quite possibly a regime change at worst, the central government is working to tighten further control of the Internet beyond what's considered "reasonable" by the standards set by the Communist Party with the new national security law.  It seems to give Chinese president Xi Jinping, and whover comes next after him, more power over the average Chinese citizens.  While most posts focus on the business side of the new law as it relates to foreign companies, the timing of this law's adoption should not be dismissed as coincidence. 

Furthermore, the media mouthpieces of the Communist Party has been on nonstop about trusting the government to know what is best for the people and faith that the central government will find a way to stablize the stock market.  On top of that, the government's target of annual 7% growth is widely believed to be too optimistic by all accounts. 

Put it all together, it explains why Beijing is desperately throwing everything including the kitchen sink supporting the stock market, deflecting attention away from domestic problems, and tightening further flow of information.  


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