As #BlackMonday wreaked havoc on the U.S. and global markets on Monday, Chinese state media mostly ignored its serving as the negative catalyst for the global freak out.
Foreign Policy noted on Monday night that China’s state news agency Xinhua’s website, state broadcaster China Central Television and the state newspaper People’s Daily reported on everything but the market collapse: a flashback story on President Xi Jinping’s 1998 visit to Tibet, photos of planning for an upcoming military parade and a negative story on Chinese tourists who buy pricey Japanese goods.
Stories about the stock market collapse were buried in hard-to-find spots of websites or not reported at all.
New York Times China reporter Chris Buckley tweeted about the coverage.
China’s stock markets tumbled on Monday. You won’t find a single mention in the People’s Daily on Tuesday. pic.twitter.com/6kRlc5M00b
– Chris Buckley 储百亮 (@ChuBailiang) August 25, 2015
The stock market opened on Tuesday in much better shape than #BlackMonday. Media stocks rebounded as Netflix shot up 7.59 percent; Apple improved 5.08 percent; Twitter sprung 3.06 percent; Facebook improved 4.55 percent; Time Warner 2 percent; and Disney improved 3 percent.