China's crash takes trillions with it

  • 09/07/2015

While Greece's debt troubles are weighing on Europe, analysts in New Zealand are wary about a growing financial crisis in China.

A brutal market sell-off has now wiped $4.5 trillion off China's main exchanges.

The world's second-largest economy is in a fragile state and its growth is being threatened as stocks plummet.

Inexperienced investors were borrowing a lot of money to buy shares in companies that have become overvalued.

But high hopes have turned into despair – in the past three weeks the main exchange has lost trillions of dollars and taken victims with it.

As the market fell, panic set in an investors were forced to pay back what they had borrowed.

Watch the video for the full ITV report.