"With the Chinese renminbi now taking its biggest plunge in decades, the worry is that the country's already slowing economy is even worse off than reported and that the government is panicking. On Thursday, China allowed the renminbi to weaken significantly for a third consecutive day."
China's 20+ year uninterrupted expansion is over. The world's marginal consumer of everything is getting monkey hammered:
Real estate collapse
Stock collapse
Export collapse
Economy collapse
Currency collapse
Shanghai Comp with U.S. Dow:
Global markets:
China is sliding back into the Third World abyss. Their attempt to adopt the wholly unaffordable, unsustainable, unscalable consumption oriented lifestyle was a colossal failure. They sank themselves and they gutted the developed world's middle class - abetted by multinational corporations. China's enduring "gift" for this doomed experiment, is Third World deflation for everyone.
Of course, the stoned Idiocracy has yet to waken from their Kardashian coma to take notice.
It's just another buying opportunity.
