blaze 57
Well-Known Member
This is actually bad news for the US. You would be wrong if you think China's and the US's economies are decoupled. Emerging market stock prices have tumbled too. Guess where all those products that US companies sell are either partly or wholly made?
Another tell that the worldwide economy (of which US is the largest contributor) has tumbled is the price of copper has fallen. Copper is used in practically everything. Buyers for practically all companies worldwide have drastically cut back on orders for copper which means that production of practically everything is about to drop. Same thing happened in 2008. Don't believe me, read and decide for yourself.
https://www.theguardian.com/business/2015/jan/14/copper-prices-fall-fears-looming-global-recession
Right wingers are stuck in the old idea that markets are a zero sum game where one person loses and another wins. That would be wrong too. China's losses are going to be US's losses before too long. Maybe by this winter or next year the pigeons will come home to roost.