The turmoil in China’s stock market is so bad that 700 companies have halted trading to ‘self-preserve’, thus preventing investors from selling their shares. That means about a quarter of the companies listed on China’s two big exchanges are no longer trading. The government has taken extraordinary steps to try to prevent further damage and over 20 of China’s top brokerage firms publicly pledged to buy back stocks and funds in an effort to slow the downfall. It did not work and investors aren’t convinced. By Wednesday 8 July China’s stock markets had lost $3.25 trillion (that’s more than the size of France’s stock market and twice the size of India’s). Those in the know are saying China’s $28 trillion debt is a threat to the global economy. See also http://www.bloombergview.com/quicktake/chinas-debt-bomb