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9. Chinese Stock Market Turbulence (2015-2016)
In June 2015, China’s stock market bubble popped, causing the Shanghai Stock Market to lose one-third of its value in just a month. On Black Monday (August 24, 2015), the Shanghai index plunged 8.24%, marking the worst drop since 2007. The crisis lasted for eight months, and experts believe it happened due to China’s shift from manufacturing to a more service-based economy.