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Hanging our hopes on China's peg.

Nope, I'm not talking about currency pegs. Rather, it strikes me that a lot of folks who are looking at the big picture global stuff, are looking for the Chinese economy to continue to drag the rest of the world along in it's wake. That has certainly seemed to be the case, thus far, at least. Arguably Exhibit 1 would be Australia, which seems to be thriving on the back of commodity exports to the Middle Kingdom, to the extent that their central bank has been raising rates to make sure things stay on an even keel, so to speak.

To those folks who continue to believe that China's the answer to the economic funk that persists in large swaths of the world, Jim Jubak's Journal in MSN Money might prove somewhat unsettling.

Here's the link.

Disclosure: No positions