Mike Barnicle on the financial fallout tied to China’s weakening market

Following the Dow Jones Industrial Average dropping 588 points on Monday reaching an 18-month closing low, Financial Times’ Gillian Tett joins MSNBC’s Morning Joe and talks with Mike Barnicle about the financial fallout tied to China’s weakening market. “Who are the investors in the Chinese stock market? Where do they get the money to invest in the Chinese stock Market? And what is the story on the historic debt that China is carrying?,” asks Mike. “China’s economy is clearly built on a thin tissue of debt, but the larger point is that it shows the world that [the U.S.] economy is truly the most stable economy in the world,” Mike continues. Listen to Tett break down the situation in China here and the ensuing conversation on China and its impact on global markets.


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