Yes, It’s a Slow Summer in the US But China Is Roiling

US markets and the economy are pretty dull, the real action is in China
Yes, It’s a Slow Summer in the US But China Is Roiling
Paramilitary policemen patrol in front of the People's Bank of China, the central bank of China, in Beijing on July 8. Greg Baker/AFP/Getty Images
Valentin Schmid
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Although U.S. financial markets have pulled back recently and some people think they are putting in a major top, the real action this summer is in China.

At first we had a stock market crash of roughly 30 percent, then a surprise devaluation of the currency of 3 percent and bad economic data throughout to accompany the drama.   

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Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.
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