China disowns blame for crisis

 

The agency Xinhua tweeted, “Black Monday! #ChinaStocks join global panic selloff, dive 8.5%, worst since Asian financial crisis at midday,” squarely brushing off its responsibility as its own market fell by 8.49 per cent causing a global stock market meltdown. The Chinese markets has been on a downfall since the government devalued yuan coupled with weak manufacturing data.