China Crisis Is Good for the Global Economy
This article is for subscribers only.
June 4 (Bloomberg) -- The world should stop panicking overChina’s economic slowdown. It’s actually a good thing.
This advice won’t go down well in Australia, which has madea big leveraged bet that China will keep growing 10 percentforever. It won’t comfort exporters in Japan, Singapore, SouthKorea or Taiwan. Traders won’t be happy to see prices of oil,gold and steel plunge as demand from the mainland shrinks. Asia,as a whole, will shudder if China weakens the yuan. Europe mighthave to find a new benefactor for its debt markets.