Short answer… China.
For years, China's economy has been humming along with GDP growing at about 7% to 8% - or so they say. Although China has made some market reforms over the years and introduced elements of capitalism into their economy, the Chinese economy is still very much controlled by the Chinese government. Still, even controlled economies can experience recessions and lagging periods. The Chinese government has "chosen" or aimed at growing at the aforementioned rates; if it was really that easy, however, then recessions or bad economies wouldn't exist because growth could just be selected as if off a menu. China plays a major part in the global economy without a doubt, so any adverse news whether signaling slowing growth or worse, a recession, can cause turmoil in global markets... READ MORE