Analysts are still trying to read the financial tea leaves from China’s recent stock value plunge.
Good luck guys and write your mother when you get real work!
Whatever the final verdict of wall street’s sages, the dramatic reaction of the American market sends only one big message: like it or not, we are inextricably tied to China’s economic and political future. Their ups are our downs, and their downs, well, they kinda hurt too.
Will Hutton observes that underneath the obvious tensions between the two countries lies a “greater truth”, namely that both sides are codependent and essentially benefit from the relationship. This is very true. But I never took to codependency very well. And when the American public eyeballs this ‘benefit’ in their monthly mutual fund and 401K reports, the expressions of gratitude should tell us a lot. Let’s just say this is a test of whether the U.S. really understands this new global reality.
Or better yet, if we really “get” the economic challenge that China is bringing to the world’s table.
