Yesterday, stock markets around the world felt sharply amid worries about an economic slowdown in China and the United States.
It started at Shanghai’s stock market which ended 9% lower as the day before. Subsequently it negatively affected European and US stock markets with sharp drops as well. As a scholar this is hard evidence that China is gaining importance not only as manufacturing powerhouse but also in the global capital market. Furthermore, capital continues to fluid around the globe, and economies and capital markets are increasingly interlinked these days. The New York Times published an effective visualisation of yesterday’s happening.
Will the market bounce back today? Upon now the answer seems negative because of remaining “Asian” worries on the American economy.
Another NYTimes photo report on yesterday’s events can be found here
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