A surprise currency devaluation and another jolt in local equity prices sent jitters through peripheral currencies and global markets. Doomsayers would be wrong to see portents of downfall in either. The popped stock market bubble and weakened RMB demand are symptomatic of deferred structural transition. The consequent slowdown, long in the making, is hardly news.
August: reform agenda edges forward
August: reform agenda edges forward
August: reform agenda edges forward
A surprise currency devaluation and another jolt in local equity prices sent jitters through peripheral currencies and global markets. Doomsayers would be wrong to see portents of downfall in either. The popped stock market bubble and weakened RMB demand are symptomatic of deferred structural transition. The consequent slowdown, long in the making, is hardly news.