Chinese netizens call BS on state media op-ed blaming stock slump on foreign forces

By Ella Wong, July 29, 2015

0 0

As Chinese stocks continue to take the country's 90 million investors on a rollercoaster of a summer, Beijing has tried all manner of ways to stabilize the market and restore confidence, from banning trading to buying shares and investigating mass sell-offs. They’ve even rolled out that trusty government tactic – invoking patriotism.

Chinese stock market propaganda

While the above propaganda poster is, of course, a parody from Twitter user StockCats, the quote is real – from Weibo executive Fan Shaoxuan.

After the Shanghai Composite Index on Monday plummeted 8.5 percent –  the single biggest one-day fall since 2007 – yet more commentaries blaming “foreign forces” for the tumble rolled off the presses.

George Chen on Twitter highlights state media blaming China's stock crash on foreign forces

In a notable example of the genre, Niu Wenxin, the executive editor of CCTV’s finance channel, declared that foreign forces were “undoubtedly” behind China’s stock market plunge.

Chinese netizens, however, were not buying it.

“You guys started out saying it was foreign forces, then you said it wasn’t, now you’re saying it again ad nauseam, what about public trust?” read the top comment on NetEase.

Another popular comment from Qingdao said:

“Don’t treat Chinese investors like idiots – the real economy has been continuously slipping, and all the while the stock market had been rapidly going up. What does this mean? It’s no longer investment, it’s speculation. Most people understand this.”

A searing response from Sichuan that received 11,329 upvotes read:

“Once again inventing an enemy. Even when you’re constipated it’s America’s fault.”

But perhaps the best rebuttal of all came from an Internet user in Suzhou:

“There are three countries in the world that are very important to the Celestial Empire [China] –  1) North Korea: when the Chinese feel that life is barely worth living, they can look to North Korea to find their sense of superiority; 2) Japan: when domestic conflicts can’t be harmonized, one mention of the Diaoyu Islands is enough to divert attention from the issue; 3) the US: all bad things can be blamed on America, every unfavorable element is a futile American plot to destroy China.”


[Image via Fortune; h/t George Chen]

more news

Chinese state media Twitter account goes on UFO rant

The official Twitter account of the People's Daily newspaper spent almost an hour today posting nonsensical updates about UFOs.

State media: 93% of Japanese 'hate Chinese' (but it's OK because Japan sucks anyway)

Yeah, well, Mt. Fuji is ugly, Kobe beef is disgusting and the Ryukus belong to China. Meh!

60% of Chinese netizens think this guy was right to brutally beat female motorist

Netizens voice support for man who kicked woman‘s face in.

Chinese media censored for suggesting that Kim Jong-un didn't actually climb Mt. Paektu

Articles accusing North korean media of 'obvious' Photoshopping have been deleted.

Chinese Islamic State members arrested in Turkey attempting to cross Syrian border

Six Chinese citizens among 134 arrested in in Turkey last week.

0 User Comments

In Case You Missed It…

We're on WeChat!

Scan our QR Code at right or follow us at thatsonline for events, guides, giveaways and much more!

7 Days in China With

Weekly updates to your email inbox every Wednesday


Download previous issues

Never miss an issue of That's Magazines!

Visit the archives