In what was becoming a free fall, bringing back nightmares of the 2008 crash, China has stepped in to correct the situation
The crisis whose epicenter was in China hit the global markets, including India and U.S.A. The back ripples were once again felt by China, whose stocks again took a beating on Tuesday.
This prompted Beijing to cut rates and modify reserve ratios for banks. The ploy seems to be working, as the downslide appears to have halted. At least for now.
