chennian

A Meltdown in Emerging Markets?

I'm fed up with people knowing nothing about China to make wild guesses about what is happening here. The decline in Shanghai market is related more to what happened 20 years ago when China started its stock market. In my personal view, oil price has a much bigger impact to U.S. economy than to Chinese one. High oil price will permanently reverse the lifestyle in the U.S. and consumer spending will be damaged. Urban living will prevail. Surburban housing will face more price pressure.