The China Syndrome, a 1979 thriller film starring Jane Fonda, Jack Lemmon and Michael Douglas tells the story of a television reporter and her cameraman who discover safety violations and coverups at a nuclear plant. The title refers to the idea that a nuclear plant in meltdown mode would burn through all of its containment structures and go “all the way to China.”
Obviously, that doesn’t make sense gravitationally. How could something melt and slump its way to the center of the earth and then fight gravity for second part of the journey? Nuclear corium could never do that.
But financial meltdowns? They're another matter altogether. And with those…who knows??
China In Meltdown Mode
The Chinese stock market entered meltdown mode recently. The Chinese have authorities expended huge amounts of money and political capital to not only stem the market losses, but reverse them. They've taken very desperate measures
I won’t spend a lot of time reviewing those efforts here because they are so well-covered elsewhere, but here’s a good summary:
China is taking 10 huge actions to save its stock market
Jul 8, 2015
1. The government is essentially buying stock: The CSF is lending $42 billion (260 billion yuan) to 21 brokerage firms so they can purchase "blue chip" stocks. That's on top of what the $20 billion the brokerages vowed to buy over the weekend.
2. China is even buying small stocks: The CSF also pledge to buy more small and medium-sized stocks, although there was no specific amount given of how much would be spent.
3. New stimulus: A new $40 billion (250 billion yuan) plan announced Wednesday to foster growth in areas of the economy that need it most. China's economy has been slowing down.
4. More government spending: China will also speed up infrastructure spending that the government was already planning to do such as building roads and utilities.
5. Over half of China's stocks have stopped trading: China has allowed half of the companies on the stock exchange to halt trading in their shares.
by learntoadapt 
